Acadian Timber Corp. (OTCMKTS:ACAZF) Sees Significant Increase in Short Interest

Acadian Timber Corp. (OTCMKTS:ACAZF) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 15,600 shares, an increase of 38.1% from the March 15th total of 11,300 shares. Based on an average daily volume of 6,500 shares, the short-interest ratio is presently 2.4 days.

Wall Street Analyst Weigh In

Separately, Raymond James reiterated a “buy” rating and issued a $18.50 price objective on shares of Acadian Timber in a report on Monday, February 12th.

Acadian Timber Price Performance

OTCMKTS:ACAZF opened at $12.92 on Friday. The business’s fifty day moving average price is $12.56 and its 200 day moving average price is $12.38. Acadian Timber has a 12 month low of $11.13 and a 12 month high of $13.81.

Acadian Timber Increases Dividend

The firm also recently announced a dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be issued a $0.2153 dividend. This represents a yield of 6.79%. The ex-dividend date is Wednesday, March 27th. This is a positive change from Acadian Timber’s previous dividend of $0.21. Acadian Timber’s dividend payout ratio is 168.37%.

Acadian Timber Company Profile

Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates in two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages freehold timberlands in New Brunswick and Maine; and provides timber services relating to Crown licensed timberlands in New Brunswick.