Acadian Timber Corp. (OTCMKTS:ACAZF) Short Interest Down 28.2% in April

Acadian Timber Corp. (OTCMKTS:ACAZF) saw a significant drop in short interest during the month of 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 trading volume, of 6,000 shares, the days-to-cover ratio is presently 1.9 days.

Wall Street Analysts Forecast Growth

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

Acadian Timber Stock Performance

Shares of Acadian Timber stock opened at $12.60 on Friday. The firm’s 50 day simple moving average is $12.61 and its two-hundred day simple moving average is $12.38. Acadian Timber has a 12-month low of $11.13 and a 12-month high of $13.81.

Acadian Timber Increases Dividend

The business also recently disclosed a dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.2153 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Acadian Timber’s previous dividend of $0.21. This represents a dividend yield of 6.79%. Acadian Timber’s payout ratio is 168.37%.

About Acadian Timber

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.