West Fraser Timber Co. Ltd. $WFG Shares Purchased by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board increased its stake in West Fraser Timber Co. Ltd. by 26.8%, acquiring an additional 56,964 shares to hold a total of 269,683 shares worth approximately $20.7 million.
• West Fraser Timber reported negative earnings per share of ($0.38) for the recent quarter, missing estimates, and had a revenue of $1.53 billion against analyst expectations of $1.61 billion.
• The company declared a quarterly dividend of $0.32 per share, representing an annualized dividend yield of 1.8%, with a payout ratio currently at -73.14%.

Canada Pension Plan Investment Board boosted its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 26.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,683 shares of the company's stock after purchasing an additional 56,964 shares during the period. Canada Pension Plan Investment Board owned about 0.35% of West Fraser Timber worth $20,717,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in West Fraser Timber in the 4th quarter valued at approximately $52,000. GAMMA Investing LLC grew its holdings in West Fraser Timber by 7,588.9% during the 1st quarter. GAMMA Investing LLC now owns 692 shares of the company's stock valued at $53,000 after buying an additional 683 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in West Fraser Timber by 6.9% during the 1st 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. Gulf International Bank UK Ltd grew its holdings in West Fraser Timber by 1,396.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company's stock valued at $230,000 after buying an additional 2,793 shares during the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in West Fraser Timber during the 1st quarter valued at $251,000. 40.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on WFG. Wall Street Zen cut West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. Finally, TD Securities lowered their target price on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $100.00.

West Fraser Timber Trading Up 3.3%

Shares of NYSE:WFG traded up $2.39 during midday trading on Friday, reaching $75.04. The company's stock had a trading volume of 293,781 shares, compared to its average volume of 246,040. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of -42.88 and a beta of 1.15. The company has a quick ratio of 1.61, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. West Fraser Timber Co. Ltd. has a 1 year low of $68.63 and a 1 year high of $102.40. The business has a 50 day moving average price of $73.40 and a 200 day moving average price of $74.60.

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

West Fraser Timber Announces Dividend

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

West Fraser Timber Company 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.