Deltic Timber Corp. (DEL) Stock Rating Reaffirmed by Barclays PLC
Deltic Timber Corp. (NYSE:DEL)‘s stock had its “equal weight” rating reaffirmed by research analysts at Barclays PLC in a note issued to investors on Thursday. They currently have a $35.00 target price on the stock. Barclays PLC’s price target points to a potential downside of 44.97% from the company’s current price.
Several other equities research analysts have also commented on the stock. Bank of America Corp. raised shares of Deltic Timber Corp. from an “underperform” rating to a “neutral” rating in a report on Wednesday. BMO Capital Markets reissued a “market perform” rating and issued a $37.00 price target on shares of Deltic Timber Corp. in a report on Wednesday. BTIG Research reissued a “buy” rating and issued a $52.00 price target on shares of Deltic Timber Corp. in a report on Monday. Stifel Nicolaus reissued a “hold” rating and issued a $41.00 price target (up previously from $40.00) on shares of Deltic Timber Corp. in a report on Saturday, October 8th. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $42.00 price target on shares of Deltic Timber Corp. in a report on Tuesday, August 16th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $42.40.
Shares of Deltic Timber Corp. (NYSE:DEL) traded down 3.03% during midday trading on Thursday, hitting $63.60. 46,227 shares of the stock traded hands. The company’s 50 day moving average price is $68.95 and its 200-day moving average price is $66.22. Deltic Timber Corp. has a 12-month low of $50.84 and a 12-month high of $72.74. The stock has a market cap of $772.68 million, a price-to-earnings ratio of 174.73 and a beta of 0.92.
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Deltic Timber Corp. (NYSE:DEL) last posted its earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share for the quarter. The firm earned $56.70 million during the quarter, compared to analyst estimates of $45.70 million. Deltic Timber Corp. had a net margin of 2.18% and a return on equity of 1.82%. On average, equities research analysts expect that Deltic Timber Corp. will post $1.50 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 dividend on an annualized basis and a yield of 0.63%. Deltic Timber Corp.’s payout ratio is currently 108.11%.
In other Deltic Timber Corp. news, CFO Kenneth Dewayne Mann sold 3,323 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $70.50, for a total value of $234,271.50. Following the transaction, the chief financial officer now owns 27,939 shares of the company’s stock, valued at $1,969,699.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Byrom Walker sold 1,199 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $70.59, for a total transaction of $84,637.41. Following the completion of the transaction, the insider now directly owns 3,294 shares in the company, valued at approximately $232,523.46. The disclosure for this sale can be found here. 14.40% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas boosted its position in Deltic Timber Corp. by 13.2% in the second quarter. Teacher Retirement System of Texas now owns 1,568 shares of the company’s stock worth $105,000 after buying an additional 183 shares during the last quarter. Mason Street Advisors LLC bought a new position in Deltic Timber Corp. during the second quarter worth approximately $140,000. Kernodle & Katon Asset Management Group LLC bought a new position in Deltic Timber Corp. during the second quarter worth approximately $157,000. BNP Paribas Arbitrage SA boosted 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 worth $224,000 after buying an additional 1,827 shares during the last quarter. Finally, Capstone Asset Management Co. boosted 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 worth $335,000 after buying an additional 640 shares during the last quarter. 82.05% of the stock is currently owned by institutional investors.
Deltic Timber Corp. Company Profile
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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