Aigen Investment Management LP Purchases 4,006 Shares of 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 raised its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 41.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. LPL Financial LLC raised its stake in shares of West Fraser Timber by 46.6% in the fourth quarter. LPL Financial LLC now owns 6,642 shares of the company's stock worth $575,000 after purchasing an additional 2,111 shares during the last quarter. Franklin Resources Inc. increased its position in West Fraser Timber by 16.0% during the fourth quarter. Franklin Resources Inc. now owns 11,361 shares of the company's stock valued at $983,000 after acquiring an additional 1,571 shares during the last quarter. Geode Capital Management LLC increased its position in West Fraser Timber by 31.5% during the fourth quarter. Geode Capital Management LLC now owns 306,463 shares of the company's stock valued at $26,409,000 after acquiring an additional 73,335 shares during the last quarter. Envestnet Asset Management Inc. increased its position in West Fraser Timber by 8.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 24,589 shares of the company's stock valued at $2,129,000 after acquiring an additional 1,969 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in West Fraser Timber during the fourth quarter valued at about $487,000. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Down 0.5%

WFG stock traded down $0.37 during midday trading on Friday, reaching $74.53. 57,863 shares of the company traded hands, compared to its average volume of 204,173. West Fraser Timber Co. Ltd. has a 52-week low of $68.63 and a 52-week high of $102.40. 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 business has a 50 day moving average of $73.88 and a 200-day moving average of $75.85. The firm has a market capitalization of $5.72 billion, a price-to-earnings ratio of -42.61 and a beta of 1.15.

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

West Fraser Timber Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Thursday, June 26th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, June 26th. West Fraser Timber's dividend payout ratio is presently -73.14%.

Analysts Set New Price Targets

Several research firms have issued reports on WFG. Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. TD Securities dropped their price objective on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Wall Street Zen downgraded West Fraser Timber from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Royal Bank Of Canada decreased their target price on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.00.

West Fraser Timber Profile

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.