Barclays PLC Reaffirms Equal Weight Rating for Deltic Timber Corp. (DEL)
Deltic Timber Corp. (NYSE:DEL)‘s stock had its “equal weight” rating reissued by stock analysts at Barclays PLC in a note issued to investors on Thursday. They currently have a $35.00 price objective on the stock. Barclays PLC’s price objective would indicate a potential downside of 44.97% from the company’s previous close.
A number of other brokerages have also recently commented on DEL. Credit Suisse Group AG reiterated a “neutral” rating and issued a $42.00 price target on shares of Deltic Timber Corp. in a research note on Tuesday, August 16th. Bank of America Corp. upgraded shares of Deltic Timber Corp. from an “underperform” rating to a “neutral” rating in a research note on Wednesday. BMO Capital Markets reiterated a “market perform” rating and issued a $37.00 price target on shares of Deltic Timber Corp. in a research note on Wednesday. BTIG Research reiterated a “buy” rating and issued a $52.00 price target on shares of Deltic Timber Corp. in a research note on Monday. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $41.00 price target (up previously from $40.00) on shares of Deltic Timber Corp. in a research note on Saturday, October 8th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Deltic Timber Corp. has an average rating of “Hold” and a consensus price target of $42.40.
Deltic Timber Corp. (NYSE:DEL) traded down 3.03% during trading on Thursday, reaching $63.60. 46,227 shares of the company’s stock were exchanged. Deltic Timber Corp. has a 52-week low of $50.84 and a 52-week high of $72.74. The firm has a market cap of $772.68 million, a P/E ratio of 174.73 and a beta of 0.92. The stock’s 50 day moving average price is $68.95 and its 200 day moving average price is $66.22.
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Deltic Timber Corp. (NYSE:DEL) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.35 EPS for the quarter. The firm earned $56.70 million during the quarter, compared to analysts’ expectations of $45.70 million. Deltic Timber Corp. had a net margin of 2.18% and a return on equity of 1.82%. Equities research analysts anticipate that Deltic Timber Corp. will post $1.50 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.63%. The ex-dividend date is Tuesday, November 29th. Deltic Timber Corp.’s dividend payout ratio is currently 108.11%.
In other Deltic Timber Corp. news, insider Byrom Walker sold 1,199 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $70.59, for a total value of $84,637.41. Following the transaction, the insider now directly owns 3,294 shares of the company’s stock, valued at approximately $232,523.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Madison Murphy bought 4,389 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was purchased at an average cost of $45.34 per share, for a total transaction of $198,997.26. The disclosure for this purchase can be found here. 14.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. raised its position in Deltic Timber Corp. by 8.5% in the first quarter. Prudential Financial Inc. now owns 27,933 shares of the company’s stock valued at $1,680,000 after buying an additional 2,200 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Deltic Timber Corp. by 26.6% in the first quarter. Goldman Sachs Group Inc. now owns 14,198 shares of the company’s stock valued at $854,000 after buying an additional 2,981 shares in the last quarter. Wellington Management Group LLP raised its position in Deltic Timber Corp. by 5.7% in the first quarter. Wellington Management Group LLP now owns 1,427,032 shares of the company’s stock valued at $85,837,000 after buying an additional 77,011 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Deltic Timber Corp. by 121.1% in the second quarter. BNP Paribas Arbitrage SA now owns 3,336 shares of the company’s stock valued at $224,000 after buying an additional 1,827 shares in the last quarter. Finally, Capstone Asset Management Co. raised its position in Deltic Timber Corp. by 14.7% in the second quarter. Capstone Asset Management Co. now owns 4,993 shares of the company’s stock valued at $335,000 after buying an additional 640 shares in the last quarter. 82.05% of the stock is currently owned by hedge funds and other institutional investors.
About Deltic Timber Corp.
Deltic Timber Corporation is a vertically integrated natural resources company. The Company is engaged in the growing and harvesting of timber and the manufacturing and marketing of lumber and medium density fiberboard (MDF). It operates through four segments: Woodlands, which manages all aspects of its timberlands, including harvesting and sale of timber, timberland sales and acquisitions, oil and gas revenues, timberland management and leasing of hunting land; Manufacturing, which consists of its approximately two sawmills that manufacture a range of softwood lumber products and the Del-Tin Fiber plant that produces MDF; Real Estate, which includes the Company’s approximately four real estate developments and a related country club operation, and Corporate, which consists of executive management and the staff functions.
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