Acadian Timber Corp (TSE:ADN) shares shot up 2.8% during trading on Tuesday . The stock traded as high as C$19.80 and last traded at C$19.65. 15,743 shares changed hands during mid-day trading, an increase of 140% from the average session volume of 6,558 shares. The stock had previously closed at C$19.12.

Separately, Scotiabank lowered shares of Acadian Timber Corp from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from C$19.25 to C$18.50 in a research note on Friday, July 28th.

The firm has a market capitalization of $331.61 million and a price-to-earnings ratio of 22.60. The company’s 50-day moving average is $18.98 and its 200-day moving average is $18.56.

The company also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Saturday, September 30th were issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 5.75%. The ex-dividend date was Thursday, September 28th.

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About Acadian Timber Corp

Acadian Timber Corp. is a Canada-based supplier of primary forest products in Eastern Canada and the Northeastern United States. The Company owns and manages approximately 761,000 acres of freehold timberlands in New Brunswick (New Brunswick Timberlands), approximately 299,000 acres of freehold timberlands in Maine (Maine Timberlands) and provides management services relating to approximately 1.3 million acres of Crown licensed timberlands.

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