Acadian Timber Corp. (OTCMKTS:ACAZF – Get Rating) saw a large drop in short interest during the month of August. As of August 15th, there was short interest totalling 23,200 shares, a drop of 15.9% from the July 31st total of 27,600 shares. Based on an average daily trading volume, of 3,200 shares, the short-interest ratio is presently 7.3 days.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Royal Bank of Canada dropped their price target on Acadian Timber from C$18.00 to C$17.00 in a research report on Friday, July 29th. CIBC upgraded Acadian Timber from an "underperform" rating to a "neutral" rating in a research report on Friday, July 8th. Finally, Scotiabank dropped their price target on Acadian Timber from C$18.25 to C$17.00 in a research report on Thursday, July 28th.
Get Acadian Timber alerts:Acadian Timber Stock Performance
ACAZF opened at $12.99 on Monday. Acadian Timber has a 12 month low of $12.32 and a 12 month high of $15.82. The stock's 50 day moving average price is $13.11 and its 200 day moving average price is $14.22.
Acadian Timber Cuts Dividend
The firm also recently announced a dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a $0.2263 dividend. This represents a yield of 6.75%. The ex-dividend date of this dividend was Wednesday, June 29th.Acadian Timber Company Profile
(Get Rating)
Acadian Timber Corp. supplies primary forest products in Eastern Canada and the Northeastern United States. The company operates through two segments, NB Timberlands and Maine Timberlands. Its products include softwood and hardwood sawlogs, pulpwood, and biomass by-products. The company owns and manages approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides timber services relating to approximately 1.3 million acres of Crown licensed timberlands in New Brunswick.
Further Reading
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