72,942 Shares in West Fraser Timber Co. Ltd. $WFG Purchased by Legal & General Group Plc

Key Points

• Legal & General Group acquired 72,942 shares of West Fraser Timber worth approximately $4.94 million, while several other institutional investors also initiated positions. Institutional investors and hedge funds now own 40.23% of the company.
• 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. Analysts anticipate a full-year loss of $3.77 per share.
• The stock recently traded at $67.07 and pays a quarterly dividend of $0.32, representing a 1.9% yield. Analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $83.20.

Legal & General Group Plc acquired a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 72,942 shares of the company's stock, valued at approximately $4,936,000. Legal & General Group Plc owned 0.09% of West Fraser Timber at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company acquired a new stake in shares of West Fraser Timber during the second quarter valued at about $12,360,000. Manning & Napier Advisors LLC purchased a new position in shares of West Fraser Timber during the 2nd quarter worth approximately $86,416,000. Atlas FRM LLC acquired a new stake in West Fraser Timber in the 2nd quarter valued at approximately $50,090,600. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in West Fraser Timber in the second quarter valued at approximately $933,000. Finally, Bank of Nova Scotia purchased a new stake in West Fraser Timber in the second quarter valued at approximately $5,893,000. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Stock Performance

NYSE:WFG opened at $67.07 on Friday. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $76.99. The company has a fifty day simple moving average of $68.31 and a two-hundred day simple moving average of $66.37. The company has a quick ratio of 0.83, a current ratio of 2.06 and a debt-to-equity ratio of 0.05. The company has a market cap of $5.25 billion, a price-to-earnings ratio of -4.34 and a beta of 1.00.

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

West Fraser Timber Dividend Announcement

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on WFG. Zacks Research raised West Fraser Timber from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. Wall Street Zen raised West Fraser Timber from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Weiss Ratings cut West Fraser Timber from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of West Fraser Timber in a research report on Friday, July 31st. Finally, Royal Bank Of Canada cut their price target on shares of West Fraser Timber from $85.00 to $83.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $83.20.

West Fraser Timber Company 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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