Oppenheimer Holdings Inc. Reaffirms Outperform Rating for Deltic Timber Corp. (DEL)
Deltic Timber Corp. (NYSE:DEL)‘s stock had its “outperform” rating reissued by Oppenheimer Holdings Inc. in a research note issued on Friday. They currently have a $48.00 price objective on the stock, down from their prior price objective of $49.00. Oppenheimer Holdings Inc.’s target price suggests a potential downside of 24.55% from the stock’s previous close.
DEL has been the subject of a number of other research reports. Bank of America Corp. upgraded shares of Deltic Timber Corp. from an “underperform” rating to a “neutral” rating in a research report on Wednesday, October 12th. Barclays PLC restated an “equal weight” rating and issued a $35.00 price objective (down from $37.00) on shares of Deltic Timber Corp. in a research report on Sunday, July 31st. BTIG Research restated a “buy” rating and issued a $52.00 price objective on shares of Deltic Timber Corp. in a research report on Monday, October 10th. Stifel Nicolaus restated a “hold” rating and issued a $41.00 price objective (up from $40.00) on shares of Deltic Timber Corp. in a research report on Saturday, October 8th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $37.00 price objective on shares of Deltic Timber Corp. in a research report on Wednesday, October 12th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $42.27.
Deltic Timber Corp. (NYSE:DEL) opened at 63.62 on Friday. The firm has a market capitalization of $772.92 million, a PE ratio of 174.78 and a beta of 0.92. Deltic Timber Corp. has a 52-week low of $50.84 and a 52-week high of $72.74. The company’s 50-day moving average is $68.74 and its 200-day moving average is $66.26.
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Deltic Timber Corp. (NYSE:DEL) last issued 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%. Analysts forecast that Deltic Timber Corp. will post $1.50 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, November 29th. Deltic Timber Corp.’s dividend payout ratio (DPR) is presently 108.11%.
In other Deltic Timber Corp. news, insider Ray C. Dillon sold 11,119 shares of Deltic Timber Corp. stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $70.00, for a total transaction of $778,330.00. Following the transaction, the insider now directly owns 99,208 shares of the company’s stock, valued at $6,944,560. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Kent L. Streeter sold 7,516 shares of Deltic Timber Corp. stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $69.98, for a total transaction of $525,969.68. Following the transaction, the vice president now directly owns 16,050 shares in the company, valued at $1,123,179. The disclosure for this sale can be found here. Company insiders own 14.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of DEL. Nationwide Fund Advisors increased its position in Deltic Timber Corp. by 1.2% in the second quarter. Nationwide Fund Advisors now owns 7,142 shares of the company’s stock valued at $479,000 after buying an additional 87 shares during the period. Arizona State Retirement System increased its position in shares of Deltic Timber Corp. by 1.8% in the second quarter. Arizona State Retirement System now owns 5,572 shares of the company’s stock valued at $374,000 after buying an additional 100 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of Deltic Timber Corp. by 2.8% in the second quarter. BlackRock Advisors LLC now owns 5,307 shares of the company’s stock valued at $356,000 after buying an additional 144 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of 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 valued at $105,000 after buying an additional 183 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Deltic Timber Corp. by 5.9% in the second quarter. Thrivent Financial for Lutherans now owns 5,170 shares of the company’s stock valued at $347,000 after buying an additional 290 shares during the last quarter. 82.05% of the stock is currently owned by hedge funds and other 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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