Bank of America Corp DE Lowers Stock Position in West Fraser Timber Co. Ltd. $WFG

Bank of America Corp DE cut its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 53.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,335 shares of the company's stock after selling 94,545 shares during the period. Bank of America Corp DE owned about 0.11% of West Fraser Timber worth $5,376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFG. Price T Rowe Associates Inc. MD boosted its holdings in shares of West Fraser Timber by 28.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,613,139 shares of the company's stock valued at $220,799,000 after purchasing an additional 802,477 shares during the last quarter. Royal Bank of Canada grew its stake in shares of West Fraser Timber by 10.3% in the 1st quarter. Royal Bank of Canada now owns 3,450,867 shares of the company's stock worth $225,306,000 after buying an additional 321,102 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of West Fraser Timber by 6.8% in the 4th quarter. Mackenzie Financial Corp now owns 1,836,255 shares of the company's stock worth $111,668,000 after buying an additional 116,161 shares during the last quarter. Donald Smith & CO. Inc. bought a new stake in shares of West Fraser Timber in the 4th quarter worth about $91,014,000. Finally, Letko Brosseau & Associates Inc. raised its position in shares of West Fraser Timber by 1.9% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 1,171,348 shares of the company's stock valued at $71,755,000 after buying an additional 22,179 shares in the last quarter. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Price Performance

Shares of WFG opened at $69.12 on Friday. West Fraser Timber Co. Ltd. has a twelve month low of $57.34 and a twelve month high of $76.99. The company has a 50 day moving average of $68.48 and a two-hundred day moving average of $66.62. 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 $5.41 billion, a price-to-earnings ratio of -4.48 and a beta of 1.00.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results 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 business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.45 billion. As a group, analysts predict that West Fraser Timber Co. Ltd. will post -3.77 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Thursday, June 25th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. West Fraser Timber's dividend payout ratio (DPR) is currently -8.29%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada cut their target price on West Fraser Timber from $85.00 to $83.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Fraser Mackenzie dropped their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a "buy" rating for the company in a research note on Friday, May 1st. TD Securities reiterated a "buy" rating on shares of West Fraser Timber in a research report on Friday, July 31st. Wall Street Zen raised shares of West Fraser Timber from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 1st. Finally, Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of West Fraser Timber in a research note on Friday, July 31st. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $83.20.

West Fraser Timber 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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