Nuveen LLC purchased a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 66,455 shares of the company's stock, valued at approximately $5,104,000. Nuveen LLC owned 0.09% of West Fraser Timber at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the business. Aigen Investment Management LP raised its holdings in West Fraser Timber by 41.6% during the 1st quarter. Aigen Investment Management LP now owns 13,634 shares of the company's stock worth $1,049,000 after buying an additional 4,006 shares during the period. Invesco Ltd. lifted its holdings in shares of West Fraser Timber by 44.5% in the first quarter. Invesco Ltd. now owns 112,431 shares of the company's stock valued at $8,650,000 after purchasing an additional 34,599 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in shares of West Fraser Timber by 3.9% in the first quarter. Maryland State Retirement & Pension System now owns 37,332 shares of the company's stock valued at $2,867,000 after purchasing an additional 1,385 shares during the last quarter. Ontario Teachers Pension Plan Board acquired a new stake in shares of West Fraser Timber in the first quarter valued at approximately $2,107,000. Finally, Deutsche Bank AG raised its holdings in shares of West Fraser Timber by 202.1% in the first quarter. Deutsche Bank AG now owns 395,101 shares of the company's stock valued at $30,399,000 after purchasing an additional 264,322 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.
Wall Street Analyst Weigh In
WFG has been the subject of several recent analyst reports. TD Securities cut their price objective on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating for the company in a report on Friday, July 25th. Wall Street Zen downgraded West Fraser Timber from a "hold" rating to a "sell" rating in a research note 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 equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, West Fraser Timber has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.
View Our Latest Analysis on WFG
West Fraser Timber Stock Performance
Shares of West Fraser Timber stock traded up $0.05 during trading hours on Monday, hitting $72.86. 217,055 shares of the company's stock traded hands, compared to its average volume of 258,796. West Fraser Timber Co. Ltd. has a 12-month low of $68.63 and a 12-month high of $102.40. The stock has a market capitalization of $5.59 billion, a price-to-earnings ratio of -41.63 and a beta of 1.15. The company has a fifty day simple moving average of $73.57 and a 200-day simple moving average of $74.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 1.61.
West Fraser Timber (NYSE:WFG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.74). The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. Equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.
West Fraser Timber Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Thursday, June 26th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Thursday, June 26th. West Fraser Timber's dividend payout ratio (DPR) is presently -73.14%.
About West Fraser Timber
(
Free Report)
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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