Van Lanschot Kempen Investment Management N.V. lowered its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 14.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,782 shares of the company's stock after selling 91,021 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned about 0.71% of West Fraser Timber worth $42,223,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of WFG. Price T Rowe Associates Inc. MD raised its holdings in shares of West Fraser Timber by 56.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock valued at $187,126,000 after purchasing an additional 780,313 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of West Fraser Timber by 202.1% during the 1st 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 in the last quarter. Bank of America Corp DE raised its holdings in shares of West Fraser Timber by 200.3% during the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock valued at $27,265,000 after purchasing an additional 210,107 shares in the last quarter. Genus Capital Management Inc. raised its holdings in shares of West Fraser Timber by 202.9% during the 1st quarter. Genus Capital Management Inc. now owns 84,374 shares of the company's stock valued at $6,480,000 after purchasing an additional 166,386 shares in the last quarter. Finally, Mackenzie Financial Corp grew its stake in West Fraser Timber by 73.7% in the 4th quarter. Mackenzie Financial Corp now owns 304,826 shares of the company's stock valued at $26,384,000 after buying an additional 129,378 shares during the last quarter. Institutional investors own 40.23% of the company's stock.
West Fraser Timber Stock Performance
NYSE WFG traded up $3.4440 during midday trading on Friday, hitting $75.9040. The company had a trading volume of 272,206 shares, compared to its average volume of 208,013. 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 stock has a market cap of $5.82 billion, a price-to-earnings ratio of -43.37 and a beta of 1.15. The firm has a fifty day simple moving average of $73.58 and a two-hundred day simple moving average of $75.32. West Fraser Timber Co. Ltd. has a fifty-two week low of $68.63 and a fifty-two week high of $102.40.
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 company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.
West Fraser Timber Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Thursday, June 26th were given a $0.32 dividend. 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 (DPR) is currently -73.14%.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on WFG shares. TD Securities lowered their target price 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. 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, Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a research note on Monday, July 21st. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $100.00.
Read Our Latest Research Report on West Fraser Timber
West Fraser Timber Company Profile
(
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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