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 increased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 6.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,101 shares of the company's stock after purchasing an additional 3,686 shares during the quarter. Korea Investment CORP owned 0.08% of West Fraser Timber worth $4,769,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in West Fraser Timber in the fourth quarter worth approximately $52,000. GAMMA Investing LLC boosted its holdings in West Fraser Timber by 7,588.9% in the first quarter. GAMMA Investing LLC now owns 692 shares of the company's stock worth $53,000 after purchasing an additional 683 shares during the last quarter. Natixis boosted its holdings in West Fraser Timber by 61.8% in the fourth quarter. Natixis now owns 1,605 shares of the company's stock worth $139,000 after purchasing an additional 613 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings 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 worth $216,000 after purchasing an additional 181 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its holdings 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 worth $230,000 after purchasing an additional 2,793 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Price Performance

Shares of WFG traded down $0.39 during trading hours on Thursday, reaching $71.92. 53,961 shares of the stock traded hands, compared to its average volume of 210,494. 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 52-week low of $68.63 and a 52-week high of $102.40. The company's 50-day moving average price is $73.60 and its two-hundred day moving average price is $75.09. The company has a market cap of $5.52 billion, a P/E ratio of -41.06 and a beta of 1.15.

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 during the quarter, compared to analysts' expectations of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. On average, analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Thursday, June 26th were paid a $0.32 dividend. The ex-dividend date was Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.8%. West Fraser Timber's payout ratio is presently -73.14%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wall Street Zen cut shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a research note on Monday, July 21st. Finally, TD Securities dropped their price target on shares of West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, West Fraser Timber currently has an average rating of "Moderate Buy" and an average target price of $100.00.

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.