Candriam S.C.A. Takes Position in West Fraser Timber Co. Ltd. $WFG

Key Points

• Candriam S.C.A. has acquired a new stake in West Fraser Timber Co. Ltd., purchasing 27,688 shares valued at approximately $2,126,000.
• West Fraser Timber recently reported a loss of ($0.38) earnings per share for the quarter, missing analysts' expectations and generating revenue of $1.53 billion.
• The company announced a $0.32 quarterly dividend, resulting in a 1.7% dividend yield, although its payout ratio stands at negative 73.14%.

Candriam S.C.A. purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 27,688 shares of the company's stock, valued at approximately $2,126,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of WFG. Point72 Asia Singapore Pte. Ltd. purchased a new position in West Fraser Timber during the fourth quarter valued at approximately $52,000. GAMMA Investing LLC increased its holdings in shares of West Fraser Timber by 7,588.9% in the 1st quarter. GAMMA Investing LLC now owns 692 shares of the company's stock valued at $53,000 after acquiring an additional 683 shares during the period. Natixis grew its stake in West Fraser Timber by 61.8% in the fourth quarter. Natixis now owns 1,605 shares of the company's stock valued at $139,000 after purchasing an additional 613 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in West Fraser Timber by 6.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock valued at $216,000 after purchasing an additional 181 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its stake in West Fraser Timber by 1,396.5% in the first quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company's stock valued at $230,000 after purchasing an additional 2,793 shares during the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $75.9040 on Friday. The company's 50 day simple moving average is $73.58 and its 200-day simple moving average is $75.26. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of -43.37 and a beta of 1.15. West Fraser Timber Co. Ltd. has a 1 year low of $68.63 and a 1 year high of $102.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.61 and a current ratio of 2.89.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.74). The firm 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%. As a group, equities research analysts expect 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. Investors of record on Thursday, June 26th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, June 26th. West Fraser Timber's payout ratio is currently -73.14%.

Analysts Set New Price Targets

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

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