The Deltic Timber Corp. (DEL) Stock Rating Upgraded by Bank of America Corp.

The Deltic Timber Corp. (DEL) Stock Rating Upgraded by Bank of America Corp.

Deltic Timber Corp. (NYSE:DEL) was upgraded by equities research analysts at Bank of America Corp. from an “underperform” rating to a “neutral” rating in a research note issued on Wednesday.

A number of other research analysts have also weighed in on the company. BMO Capital Markets reissued a “market perform” rating and set a $37.00 price target on shares of Deltic Timber Corp. in a research note on Wednesday. BTIG Research restated a “buy” rating and set a $52.00 price objective on shares of Deltic Timber Corp. in a report on Monday. Stifel Nicolaus restated a “hold” rating and set a $41.00 price objective (up from $40.00) on shares of Deltic Timber Corp. in a report on Saturday, October 8th. Credit Suisse Group AG restated a “neutral” rating and set a $42.00 price objective on shares of Deltic Timber Corp. in a report on Tuesday, August 16th. Finally, Barclays PLC restated an “equal weight” rating and set a $35.00 price objective (down from $37.00) on shares of Deltic Timber Corp. in a report on Sunday, July 31st. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Deltic Timber Corp. presently has an average rating of “Hold” and a consensus target price of $42.40.

Deltic Timber Corp. (NYSE:DEL) opened at 63.60 on Wednesday. The company has a 50-day moving average price of $68.95 and a 200-day moving average price of $66.22. The stock has a market capitalization of $772.68 million, a price-to-earnings ratio of 174.73 and a beta of 0.92. Deltic Timber Corp. has a 12-month low of $50.84 and a 12-month high of $72.74.

Deltic Timber Corp. (NYSE:DEL) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.35 earnings per share for the quarter. Deltic Timber Corp. had a return on equity of 1.82% and a net margin of 2.18%. The company had revenue of $56.70 million for the quarter, compared to analyst estimates of $45.70 million. On average, equities research analysts forecast that Deltic Timber Corp. will post $1.50 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 0.63%. Deltic Timber Corp.’s dividend payout ratio is presently 108.11%.

In other news, insider Ray C. Dillon sold 11,119 shares of the firm’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $70.00, for a total transaction of $778,330.00. Following the completion of the sale, the insider now directly owns 99,208 shares in the company, valued at $6,944,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Thurston Roach sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $70.00, for a total value of $70,000.00. Following the sale, the director now owns 10,112 shares of the company’s stock, valued at $707,840. The disclosure for this sale can be found here. Insiders own 14.40% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Prudential Financial Inc. increased its stake in shares of 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. Wellington Management Group LLP boosted its position in shares of 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 during the last quarter. Chartwell Investment Partners LLC bought a new position in shares of Deltic Timber Corp. during the second quarter valued at approximately $3,565,000. BNP Paribas Arbitrage SA boosted its position in shares of 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 during the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Deltic Timber Corp. by 4.6% in the second quarter. Brown Advisory Inc. now owns 498,928 shares of the company’s stock valued at $33,493,000 after buying an additional 21,976 shares during the last quarter. Institutional investors own 82.05% of the company’s stock.

About Deltic Timber Corp.

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