Bank of Nova Scotia acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 87,060 shares of the company's stock, valued at approximately $5,893,000. Bank of Nova Scotia owned 0.11% of West Fraser Timber as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Goldman Sachs Group Inc. boosted its position in shares of West Fraser Timber by 3.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 230,878 shares of the company's stock valued at $17,764,000 after purchasing an additional 6,640 shares in the last quarter. Cetera Investment Advisers grew its position in shares of West Fraser Timber by 9.0% during the 2nd quarter. Cetera Investment Advisers now owns 7,800 shares of the company's stock worth $571,000 after buying an additional 641 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of West Fraser Timber in the 2nd quarter valued at $5,248,000. Invesco Ltd. lifted its position in shares of West Fraser Timber by 2.2% during the 2nd quarter. Invesco Ltd. now owns 114,850 shares of the company's stock valued at $8,419,000 after acquiring an additional 2,419 shares during the period. Finally, Baird Financial Group Inc. grew its holdings in West Fraser Timber by 2.1% in the second quarter. Baird Financial Group Inc. now owns 23,919 shares of the company's stock worth $1,753,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 40.23% of the company's stock.
West Fraser Timber Stock Up 0.9%
West Fraser Timber stock opened at $69.19 on Wednesday. The firm has a 50 day simple moving average of $68.56 and a 200 day simple moving average of $66.69. The company has a current ratio of 2.06, a quick ratio of 0.83 and a debt-to-equity ratio of 0.05. West Fraser Timber Co. Ltd. has a 1-year low of $57.34 and a 1-year high of $76.99. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of -4.48 and a beta of 1.00.
West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.08). West Fraser Timber had a negative return on equity of 10.84% and a negative net margin of 22.98%.The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.45 billion. On average, analysts predict that West Fraser Timber Co. Ltd. will post -3.77 earnings per share for the current year.
West Fraser Timber Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 annualized dividend and a yield of 1.9%. West Fraser Timber's dividend payout ratio (DPR) is currently -8.29%.
Wall Street Analyst Weigh In
A number of analysts recently commented on WFG shares. Weiss Ratings lowered West Fraser Timber from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Royal Bank Of Canada dropped their price objective on shares of West Fraser Timber from $85.00 to $83.00 and set an "outperform" rating on the stock in a research note on Friday, July 31st. TD Securities reiterated a "buy" rating on shares of West Fraser Timber in a research note on Friday, July 31st. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of West Fraser Timber in a report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of West Fraser Timber from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $83.20.
Get Our Latest Stock Analysis on West Fraser Timber
West Fraser Timber 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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