Ontario Teachers Pension Plan Board Invests $2.11 Million in West Fraser Timber Co. Ltd. (NYSE:WFG)

Key Points

• The Ontario Teachers Pension Plan Board invested approximately $2.11 million in West Fraser Timber Co. Ltd., acquiring 27,429 shares in the first quarter of the year.
• West Fraser Timber Co. reported a quarterly earnings miss with a loss of ($0.38) per share, below the consensus estimate of $0.36, and recorded revenue of $1.53 billion against expected $1.61 billion.
• Multiple institutional investors increased their stakes in West Fraser Timber during the same quarter, with hedge funds and institutional ownership now at 40.23% of the company's stock.

Ontario Teachers Pension Plan Board acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 27,429 shares of the company's stock, valued at approximately $2,107,000.

Other large investors also recently modified their holdings of the company. Inspire Advisors LLC grew its position in West Fraser Timber by 3.3% in the 1st quarter. Inspire Advisors LLC now owns 4,637 shares of the company's stock valued at $357,000 after purchasing an additional 146 shares during the period. Comprehensive Money Management Services LLC grew its position in West Fraser Timber by 3.8% in the 1st quarter. Comprehensive Money Management Services LLC now owns 4,065 shares of the company's stock valued at $313,000 after purchasing an additional 150 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in West Fraser Timber by 6.9% in the 1st 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 period. DekaBank Deutsche Girozentrale grew its position in West Fraser Timber by 0.7% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 34,717 shares of the company's stock valued at $2,607,000 after purchasing an additional 251 shares during the period. Finally, Bank of Nova Scotia Trust Co. grew its position in West Fraser Timber by 10.9% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 3,673 shares of the company's stock valued at $283,000 after purchasing an additional 360 shares during the period. Institutional investors and hedge funds own 40.23% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. TD Securities reduced their price target on shares of West Fraser Timber from $98.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Royal Bank Of Canada reduced their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen downgraded shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a research report on Monday, July 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $100.00.

West Fraser Timber Stock Down 0.6%

NYSE:WFG traded down $0.44 during trading hours on Friday, hitting $71.55. 207,654 shares of the company traded hands, compared to its average volume of 239,764. The company has a quick ratio of 1.61, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The firm's 50-day simple moving average is $73.94 and its 200-day simple moving average is $76.24. West Fraser Timber Co. Ltd. has a one year low of $68.63 and a one year high of $102.40. The company has a market cap of $5.49 billion, a PE ratio of -40.89 and a beta of 1.15.

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

West Fraser Timber Dividend Announcement

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

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.