Acadian Timber Corp. (OTCMKTS:ACAZF) Sees Large Drop in Short Interest

Acadian Timber Corp. (OTCMKTS:ACAZF) was the target of a large decline in short interest during the month of April. As of April 15th, there was short interest totalling 11,200 shares, a decline of 28.2% from the March 31st total of 15,600 shares. Based on an average daily volume of 6,000 shares, the short-interest ratio is currently 1.9 days.

Wall Street Analysts Forecast Growth

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

Acadian Timber Stock Down 0.3 %

Acadian Timber stock opened at $12.60 on Monday. Acadian Timber has a fifty-two week low of $11.13 and a fifty-two week high of $13.81. The firm’s fifty day moving average price is $12.61 and its 200-day moving average price is $12.38.

Acadian Timber Increases Dividend

The company also recently declared a dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.2153 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a dividend yield of 6.79%. This is a boost from Acadian Timber’s previous dividend of $0.21. Acadian Timber’s dividend payout ratio is presently 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.