Korea Investment CORP Acquires 3,686 Shares of West Fraser Timber Co. Ltd. $WFG

Key Points

• Korea Investment CORP has increased its stake in West Fraser Timber Co. Ltd. by 6.3% in Q1, acquiring an additional 3,686 shares to hold a total of 62,101 shares valued at approximately $4.77 million.
• West Fraser Timber reported a loss of ($0.38) EPS for the quarter, missing analyst estimates, with revenue of $1.53 billion compared to expectations of $1.61 billion.
• The company's recent dividend payout was $0.32 per share, resulting in a dividend yield of 1.7%.

Korea Investment CORP boosted its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 6.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,101 shares of the company's stock after buying an additional 3,686 shares during the period. Korea Investment CORP owned 0.08% of West Fraser Timber worth $4,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. bought a new stake in West Fraser Timber during the fourth quarter worth approximately $52,000. GAMMA Investing LLC lifted its holdings in shares of West Fraser Timber by 7,588.9% in the first 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 period. Natixis boosted its stake in West Fraser Timber by 61.8% during the fourth quarter. Natixis now owns 1,605 shares of the company's stock valued at $139,000 after buying an additional 613 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in West Fraser Timber by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock worth $216,000 after acquiring an additional 181 shares during the period. Finally, Gulf International Bank UK Ltd grew its holdings in West Fraser Timber by 1,396.5% during the first quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company's stock worth $230,000 after acquiring an additional 2,793 shares during the period. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Stock Down 1.2%

NYSE WFG traded down $0.9220 on Monday, reaching $75.0280. The stock had a trading volume of 165,873 shares, compared to its average volume of 210,746. The company has a market capitalization of $5.75 billion, a price-to-earnings ratio of -42.87 and a beta of 1.15. The business has a 50 day moving average price of $73.59 and a 200 day moving average price of $75.11. The company has a current ratio of 2.89, a quick ratio of 1.61 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.

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

West Fraser Timber Dividend Announcement

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

Analyst Upgrades and Downgrades

WFG has been the subject of several research reports. Raymond James Financial restated a "market perform" rating on shares of West Fraser Timber in a research report on Monday, July 21st. Wall Street Zen lowered shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, TD Securities dropped their price target 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 assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $100.00.

About West Fraser Timber

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.