Pictet Asset Management Ltd. cut its stake in Deltic Timber Corporation (NYSE:DEL) by 4.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 564,107 shares of the construction company’s stock after selling 24,208 shares during the period. Pictet Asset Management Ltd.’s holdings in Deltic Timber Corporation were worth $38,280,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Deltic Timber Corporation by 132,559.0% in the first quarter. BlackRock Inc. now owns 1,378,327 shares of the construction company’s stock valued at $107,675,000 after buying an additional 1,377,288 shares during the period. Vanguard Group Inc. raised its position in Deltic Timber Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 974,313 shares of the construction company’s stock valued at $76,113,000 after buying an additional 47,795 shares in the last quarter. Gruss Capital Management LP purchased a new position in Deltic Timber Corporation during the first quarter valued at approximately $1,562,000. Bank of New York Mellon Corp raised its position in Deltic Timber Corporation by 16.4% in the first quarter. Bank of New York Mellon Corp now owns 139,821 shares of the construction company’s stock valued at $10,923,000 after buying an additional 19,748 shares in the last quarter. Finally, State Street Corp raised its position in Deltic Timber Corporation by 4.4% in the first quarter. State Street Corp now owns 257,348 shares of the construction company’s stock valued at $20,100,000 after buying an additional 10,884 shares in the last quarter. Institutional investors and hedge funds own 80.80% of the company’s stock.
Shares of Deltic Timber Corporation (DEL) opened at 69.22 on Thursday. The company has a market capitalization of $886.92 million, a price-to-earnings ratio of 100.32 and a beta of 0.89. The company’s 50 day moving average is $73.04 and its 200 day moving average is $74.64. Deltic Timber Corporation has a one year low of $53.21 and a one year high of $85.49.
Deltic Timber Corporation (NYSE:DEL) last announced its earnings results on Wednesday, August 2nd. The construction company reported $0.22 earnings per share for the quarter. The business had revenue of $55.35 million for the quarter. Deltic Timber Corporation had a net margin of 3.82% and a return on equity of 3.38%. Equities research analysts predict that Deltic Timber Corporation will post $1.50 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 19th. Investors of record on Tuesday, September 5th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Thursday, August 31st. Deltic Timber Corporation’s dividend payout ratio is currently 57.97%.
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Several equities analysts have commented on the stock. Bank of America Corporation raised shares of Deltic Timber Corporation from a “neutral” rating to a “buy” rating and raised their target price for the company from $44.00 to $54.00 in a report on Wednesday, April 26th. BTIG Research raised their target price on shares of Deltic Timber Corporation from $45.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, April 26th. Stephens raised shares of Deltic Timber Corporation from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $49.00 to $60.00 in a report on Monday, July 17th. Morgan Stanley raised their target price on shares of Deltic Timber Corporation from $48.00 to $49.00 and gave the company an “equal weight” rating in a report on Thursday, July 6th. Finally, BidaskClub lowered shares of Deltic Timber Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. Deltic Timber Corporation currently has an average rating of “Hold” and an average target price of $48.40.
Deltic Timber Corporation 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 the Company’s timberlands; 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 four real estate developments and a related country club operation, and Corporate.
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