Intact Investment Management Inc. Acquires 84,550 Shares of West Fraser Timber Co. Ltd. $WFG

Key Points

• Intact Investment Management boosted its stake in West Fraser by 820.9% in Q4, purchasing 84,550 shares to hold 94,850 shares (about 0.12% ownership) worth roughly $5.8 million.
• West Fraser missed quarterly expectations, reporting EPS of $(2.40) vs. a consensus of $(1.23),
• The stock trades around $59.52 (down 4.6%), while analysts have an average rating of Hold and a consensus price target of $82.60; the company also pays a $0.32 quarterly dividend (≈2.2% yield).

Intact Investment Management Inc. grew its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 820.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,850 shares of the company's stock after purchasing an additional 84,550 shares during the period. Intact Investment Management Inc. owned about 0.12% of West Fraser Timber worth $5,803,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Physician Wealth Advisors Inc. increased its holdings in shares of West Fraser Timber by 75.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 552 shares of the company's stock worth $38,000 after purchasing an additional 238 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of West Fraser Timber by 212.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 780 shares of the company's stock worth $52,000 after purchasing an additional 530 shares during the period. Jain Global LLC bought a new position in shares of West Fraser Timber during the 3rd quarter worth about $224,000. Park Avenue Securities LLC bought a new position in shares of West Fraser Timber during the 4th quarter worth about $229,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of West Fraser Timber by 5.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,874 shares of the company's stock worth $263,000 after purchasing an additional 200 shares during the period. Institutional investors own 40.23% of the company's stock.

Analyst Ratings Changes

WFG has been the topic of several research reports. Royal Bank Of Canada dropped their price objective on shares of West Fraser Timber from $81.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday. Raymond James Financial lowered shares of West Fraser Timber from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $85.00 to $75.00 in a research report on Thursday, April 23rd. TD Cowen decreased their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday. TD Securities reiterated a "buy" rating and set a $86.00 target price on shares of West Fraser Timber in a research report on Friday. Finally, Fraser Mackenzie decreased their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a "buy" rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $82.60.

West Fraser Timber Trading Down 4.6%

Shares of WFG stock opened at $59.52 on Tuesday. West Fraser Timber Co. Ltd. has a 12-month low of $57.34 and a 12-month high of $78.55. The company has a market capitalization of $4.52 billion, a P/E ratio of -3.96 and a beta of 0.97. The firm has a 50-day moving average price of $64.82 and a 200 day moving average price of $64.74. The company has a quick ratio of 0.66, a current ratio of 1.84 and a debt-to-equity ratio of 0.05.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($1.17). West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. Research analysts forecast that West Fraser Timber Co. Ltd. will post -3.16 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 2nd. Shareholders of record on Friday, March 13th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, March 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.2%. West Fraser Timber's payout ratio is currently -8.51%.

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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