Atlas FRM LLC acquired a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 740,000 shares of the company's stock, valued at approximately $50,090,600. West Fraser Timber makes up 0.0% of Atlas FRM LLC's investment portfolio, making the stock its 15th largest holding. Atlas FRM LLC owned approximately 0.95% of West Fraser Timber at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in WFG. Intact Investment Management Inc. increased its stake in shares of West Fraser Timber by 820.9% during the fourth quarter. Intact Investment Management Inc. now owns 94,850 shares of the company's stock valued at $5,803,000 after buying an additional 84,550 shares during the period. Robotti Robert purchased a new position in shares of West Fraser Timber during the second quarter valued at approximately $20,021,000. NewGen Asset Management Ltd purchased a new position in shares of West Fraser Timber during the first quarter valued at approximately $6,529,000. Donald Smith & CO. Inc. purchased a new position in shares of West Fraser Timber during the second quarter valued at approximately $110,334,000. Finally, Amundi increased its stake in shares of West Fraser Timber by 43.2% during the first quarter. Amundi now owns 192,016 shares of the company's stock valued at $12,537,000 after buying an additional 57,919 shares during the period. Institutional investors and hedge funds own 40.23% of the company's stock.
West Fraser Timber Trading Down 1.4%
NYSE WFG opened at $68.06 on Friday. The company has a quick ratio of 0.83, a current ratio of 2.06 and a debt-to-equity ratio of 0.05. West Fraser Timber Co. Ltd. has a twelve month low of $57.34 and a twelve month high of $76.99. The firm has a market capitalization of $5.33 billion, a PE ratio of -4.41 and a beta of 1.00. The stock's 50 day moving average is $68.44 and its 200 day moving average is $66.63.
West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.78) earnings per share 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 firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.45 billion. Research analysts forecast 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 announced a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Thursday, June 25th were issued a $0.32 dividend. 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 payout ratio is -8.29%.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on the company. Wall Street Zen raised West Fraser Timber from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of West Fraser Timber in a research note on Friday, July 31st. TD Cowen reduced their target price on West Fraser Timber from $88.00 to $86.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. TD Securities restated a "buy" rating on shares of West Fraser Timber in a research report on Friday, July 31st. Finally, Weiss Ratings lowered West Fraser Timber from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, West Fraser Timber currently has an average rating of "Hold" and an average target price of $83.20.
View Our Latest Stock Analysis on WFG
West Fraser Timber Company Profile
(
Free Report)
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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