41,731 Shares in West Fraser Timber Co. Ltd. $WFG Acquired by Deutsche Bank AG

Key Points

• Deutsche Bank AG acquired 41,731 West Fraser Timber shares worth approximately $2.83 million, giving it a 0.05% stake. Institutional investors collectively own 40.23% of the company.
• Analysts maintain a mixed outlook, with four Buy, three Hold, and one Sell rating. The consensus rating is Hold, with an average price target of $83.20.
• West Fraser reported a quarterly loss of $0.78 per share, missing estimates by $0.08, while revenue of $1.43 billion also fell short of expectations. The company continues to pay a quarterly dividend of $0.32 per share, representing a 1.9% yield.

Deutsche Bank AG purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 41,731 shares of the company's stock, valued at approximately $2,825,000. Deutsche Bank AG owned approximately 0.05% of West Fraser Timber at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of West Fraser Timber by 28.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,613,139 shares of the company's stock worth $220,799,000 after purchasing an additional 802,477 shares during the last quarter. Royal Bank of Canada raised its stake in shares of West Fraser Timber by 10.3% in the first quarter. Royal Bank of Canada now owns 3,450,867 shares of the company's stock worth $225,306,000 after acquiring an additional 321,102 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of West Fraser Timber by 6.8% during the fourth quarter. Mackenzie Financial Corp now owns 1,836,255 shares of the company's stock worth $111,668,000 after purchasing an additional 116,161 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in shares of West Fraser Timber during the fourth quarter valued at approximately $91,014,000. Finally, Letko Brosseau & Associates Inc. grew its stake in shares of West Fraser Timber by 1.9% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,171,348 shares of the company's stock valued at $71,755,000 after purchasing an additional 22,179 shares during the last quarter. Institutional investors own 40.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on WFG shares. Royal Bank Of Canada decreased their price objective on West Fraser Timber from $85.00 to $83.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Weiss Ratings cut West Fraser Timber from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Wall Street Zen upgraded West Fraser Timber from a "strong sell" rating to a "sell" rating in a research report on Saturday, August 1st. TD Cowen dropped their price objective on West Fraser Timber from $88.00 to $86.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of West Fraser Timber in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $83.20.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $67.80 on Thursday. The company has a current ratio of 2.06, a quick ratio of 0.83 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $5.31 billion, a P/E ratio of -4.39 and a beta of 1.00. The business has a 50-day moving average of $68.50 and a 200-day moving average of $66.65. West Fraser Timber Co. Ltd. has a 1 year low of $57.34 and a 1 year high of $76.99.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.08). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. On average, equities analysts anticipate that West Fraser Timber Co. Ltd. will post -3.77 EPS for the current year.

West Fraser Timber Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 25th. West Fraser Timber's dividend payout ratio (DPR) is presently -8.29%.

West Fraser Timber Profile

West Fraser Timber Co Ltd. NYSE: WFG is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser's integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.

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