Acadian Timber Corp (TSE:ADN) reached a new 52-week low during trading on Tuesday . The stock traded as low as C$17.31 and last traded at C$17.37, with a volume of 5165 shares traded. The stock had previously closed at C$17.71.
Separately, CIBC upgraded shares of Acadian Timber from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from C$19.00 to C$20.00 in a research report on Thursday, July 12th.
Acadian Timber (TSE:ADN) last released its earnings results on Wednesday, August 1st. The company reported C$0.11 earnings per share (EPS) for the quarter. The company had revenue of C$16.10 million for the quarter. Acadian Timber had a net margin of 61.85% and a return on equity of 18.43%.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Sunday, September 30th were issued a $0.282 dividend. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.13 dividend on an annualized basis and a yield of 6.49%.
Acadian Timber Company Profile (TSE:ADN)
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 approximately 1.1 million acres of freehold timberlands in New Brunswick and Maine; and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.
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