Pope Resources A Delaware (POPE) Declares Share Buyback Program
Pope Resources A Delaware (NASDAQ:POPE) declared that its Board of Directors has approved a share repurchase plan, which permits the company to repurchase $1.20 million in outstanding shares on Tuesday, May 30th, EventVestor reports. This repurchase authorization permits the construction company to purchase up to 0.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Pope Resources A Delaware (NASDAQ:POPE) traded down 3.72% during mid-day trading on Friday, hitting $71.76. The stock had a trading volume of 3,194 shares. Pope Resources A Delaware has a 12 month low of $61.30 and a 12 month high of $75.72. The firm’s 50-day moving average is $71.59 and its 200 day moving average is $69.11. The company has a market cap of $310.51 million, a price-to-earnings ratio of 30.32 and a beta of 0.18.
Pope Resources A Delaware (NASDAQ:POPE) last announced its quarterly earnings results on Friday, May 5th. The construction company reported $0.77 earnings per share for the quarter. The company had revenue of $17.35 million during the quarter. Pope Resources A Delaware had a return on equity of 22.53% and a net margin of 66.98%. During the same quarter last year, the firm posted ($0.25) earnings per share.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Monday, June 5th will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 3.90%. The ex-dividend date is Thursday, June 1st. Pope Resources A Delaware’s dividend payout ratio (DPR) is presently 350.00%.
Separately, TheStreet upgraded Pope Resources A Delaware from a “c” rating to a “b-” rating in a research report on Wednesday, February 22nd.
In other news, VP Jonathan P. Rose sold 500 shares of Pope Resources A Delaware stock in a transaction on Tuesday, March 14th. The stock was sold at an average price of $69.52, for a total value of $34,760.00. Following the completion of the transaction, the vice president now directly owns 9,073 shares in the company, valued at $630,754.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 11.20% of the stock is currently owned by insiders.
About Pope Resources A Delaware
Pope Resources, A Delaware Limited Partnership is engaged primarily in managing timber resources on its own properties, as well as those owned by others. The Company operates through three business segments: Fee Timber, Timberland Management and Real Estate. The Fee Timber operations consisted of growing and harvesting timber from approximately 212,000 acres that the Company owned or co-owned with its timber fund investors as tree farms, as of December 31, 2016.
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