Municipal Employees Retirement System of Michigan boosted its position in Deltic Timber Corporation (NYSE:DEL) by 63.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,080 shares of the construction company’s stock after buying an additional 1,580 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Deltic Timber were worth $361,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. K2 Principal Fund L.P. increased its position in shares of Deltic Timber by 1,379.3% in the 2nd quarter. K2 Principal Fund L.P. now owns 51,436 shares of the construction company’s stock worth $3,840,000 after purchasing an additional 47,959 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Deltic Timber by 47.2% in the 2nd quarter. Wells Fargo & Company MN now owns 137,228 shares of the construction company’s stock worth $10,246,000 after purchasing an additional 44,029 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Deltic Timber by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,008,220 shares of the construction company’s stock worth $75,274,000 after purchasing an additional 33,907 shares during the last quarter. State Street Corp increased its position in shares of Deltic Timber by 4.4% in the 1st quarter. State Street Corp now owns 257,348 shares of the construction company’s stock worth $20,100,000 after purchasing an additional 10,884 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Deltic Timber by 57.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 22,426 shares of the construction company’s stock worth $1,674,000 after purchasing an additional 8,187 shares during the last quarter. Hedge funds and other institutional investors own 85.55% of the company’s stock.
Shares of Deltic Timber Corporation (NYSE DEL) opened at $89.74 on Friday. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.18 and a current ratio of 1.72. Deltic Timber Corporation has a 1 year low of $65.65 and a 1 year high of $96.65. The firm has a market cap of $1,093.84, a PE ratio of 116.55 and a beta of 0.93.
Deltic Timber (NYSE:DEL) last announced its quarterly earnings data on Monday, October 23rd. The construction company reported $0.20 earnings per share for the quarter. Deltic Timber had a net margin of 4.13% and a return on equity of 3.74%. The business had revenue of $61.66 million during the quarter. research analysts expect that Deltic Timber Corporation will post 0.52 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 18th. Investors of record on Monday, December 4th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Friday, December 1st. Deltic Timber’s dividend payout ratio is presently 51.95%.
Several equities research analysts have recently weighed in on DEL shares. TheStreet raised shares of Deltic Timber from a “c+” rating to a “b-” rating in a research report on Thursday, September 28th. ValuEngine raised shares of Deltic Timber from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded shares of Deltic Timber from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. Deltic Timber has an average rating of “Hold” and a consensus target price of $50.13.
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Deltic Timber 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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