Short Interest in Acadian Timber Corp. (OTCMKTS:ACAZF) Declines By 28.2%

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

Acadian Timber Price Performance

Acadian Timber stock opened at $12.60 on Friday. Acadian Timber has a 12 month low of $11.13 and a 12 month high of $13.81. The stock has a fifty day simple moving average of $12.61 and a two-hundred day simple moving average of $12.38.

Acadian Timber Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.2153 dividend. This represents a yield of 6.79%. This is an increase from Acadian Timber’s previous dividend of $0.21. The ex-dividend date was Wednesday, March 27th. Acadian Timber’s dividend payout ratio (DPR) is presently 168.37%.

Analysts Set New Price Targets

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

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.