Allianz Asset Management GmbH Grows Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Key Points

• Allianz Asset Management GmbH increased its stake in West Fraser Timber Co. Ltd. by 10.4% during Q1, owning 126,605 shares valued at approximately $9.72 million as of its latest SEC filing.
• West Fraser Timber recently reported earnings of (-$0.38) per share for the last quarter, missing the consensus estimate and demonstrating negative return on equity of -0.85%.
• The company declared a quarterly dividend of $0.32 per share, resulting in an annualized yield of 1.77% despite a dividend payout ratio of -73.14%.

Allianz Asset Management GmbH raised its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 10.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 126,605 shares of the company's stock after purchasing an additional 11,924 shares during the quarter. Allianz Asset Management GmbH owned 0.16% of West Fraser Timber worth $9,723,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WFG. Headlands Technologies LLC bought a new stake in West Fraser Timber in the fourth quarter worth $35,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of West Fraser Timber during the 4th quarter worth about $52,000. GAMMA Investing LLC lifted its stake in West Fraser Timber by 7,588.9% in the first quarter. GAMMA Investing LLC now owns 692 shares of the company's stock worth $53,000 after purchasing an additional 683 shares during the last quarter. Natixis boosted its position in shares of West Fraser Timber by 61.8% during the fourth quarter. Natixis now owns 1,605 shares of the company's stock valued at $139,000 after buying an additional 613 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of West Fraser Timber by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock valued at $216,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Up 1.7%

WFG stock traded up $1.17 during trading on Friday, reaching $72.12. 217,548 shares of the stock were exchanged, compared to its average volume of 230,539. The company has a current ratio of 2.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5.53 billion, a price-to-earnings ratio of -41.21 and a beta of 1.15. The business has a 50 day moving average price of $74.55 and a 200-day moving average price of $77.39. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.74). The company had revenue of $1.53 billion during the quarter, compared to analyst estimates 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, research analysts predict 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. Stockholders of record on Thursday, June 26th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.77%. West Fraser Timber's dividend payout ratio (DPR) is currently -73.14%.

Analyst Ratings Changes

WFG has been the topic of a number of recent research reports. Royal Bank Of Canada dropped their price target 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. Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a research report on Monday, July 21st. Wall Street Zen cut shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, TD Securities cut their price objective on shares of West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.