Aigen Investment Management LP Has $1.05 Million Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Key Points

• Aigen Investment Management LP increased its stake in West Fraser Timber Co. Ltd. by 41.6%, owning 13,634 shares worth approximately $1.05 million after acquiring an additional 4,006 shares in the latest quarter.
• West Fraser Timber recently reported a quarterly earning of ($0.38) per share, missing the analysts' consensus estimate of $0.36, with a total revenue of $1.53 billion.
• The company announced a quarterly dividend of $0.32, representing an annualized dividend yield of 1.8%, despite a negative dividend payout ratio of -73.14%.

Aigen Investment Management LP lifted its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 41.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,634 shares of the company's stock after buying an additional 4,006 shares during the quarter. Aigen Investment Management LP's holdings in West Fraser Timber were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Allianz Asset Management GmbH lifted its holdings in shares of West Fraser Timber by 10.4% in the 1st quarter. Allianz Asset Management GmbH now owns 126,605 shares of the company's stock worth $9,723,000 after purchasing an additional 11,924 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of West Fraser Timber by 33.3% in the 1st quarter. Principal Financial Group Inc. now owns 16,263 shares of the company's stock worth $1,249,000 after purchasing an additional 4,061 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in shares of West Fraser Timber by 18.3% in the 1st quarter. Intact Investment Management Inc. now owns 23,900 shares of the company's stock worth $1,836,000 after purchasing an additional 3,700 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of West Fraser Timber by 6.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock worth $216,000 after purchasing an additional 181 shares in the last quarter. Finally, Comprehensive Money Management Services LLC bought a new position in shares of West Fraser Timber in the 4th quarter worth $339,000. Institutional investors and hedge funds own 40.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WFG. Wall Street Zen cut West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. Royal Bank Of Canada cut their target price on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, TD Securities dropped their price objective on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, West Fraser Timber presently has an average rating of "Moderate Buy" and a consensus target price of $100.00.

West Fraser Timber Price Performance

Shares of NYSE:WFG opened at $71.55 on Monday. The company's 50-day moving average is $73.94 and its 200 day moving average is $76.13. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.61 and a current ratio of 2.89. The company has a market capitalization of $5.49 billion, a P/E ratio of -40.89 and a beta of 1.15. West Fraser Timber Co. Ltd. has a fifty-two week low of $68.63 and a fifty-two week high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.74). The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. On average, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Thursday, June 26th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.8%. West Fraser Timber's dividend payout ratio (DPR) is -73.14%.

About West Fraser Timber

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.

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