Wealthquest Corp purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,434 shares of the company's stock, valued at approximately $2,188,000.
Other institutional investors have also recently added to or reduced their stakes in the company. FIL Ltd raised its position in shares of West Fraser Timber by 35.5% during the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company's stock worth $436,861,000 after purchasing an additional 1,319,843 shares during the period. Norges Bank purchased a new stake in shares of West Fraser Timber in the fourth quarter valued at $81,605,000. Price T Rowe Associates Inc. MD raised its holdings in shares of West Fraser Timber by 56.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock worth $187,126,000 after acquiring an additional 780,313 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of West Fraser Timber by 200.3% during the fourth quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock worth $27,265,000 after acquiring an additional 210,107 shares in the last quarter. Finally, Genus Capital Management Inc. raised its holdings in shares of West Fraser Timber by 202.9% during the first quarter. Genus Capital Management Inc. now owns 84,374 shares of the company's stock worth $6,480,000 after acquiring an additional 166,386 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.
Analyst Ratings Changes
Several equities analysts have commented on the stock. Royal Bank Of Canada lowered their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a research report on Monday, July 21st. Wall Street Zen downgraded West Fraser Timber from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, TD Securities lowered their price target on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $100.00.
View Our Latest Stock Report on West Fraser Timber
West Fraser Timber Stock Performance
WFG stock traded up $0.65 during trading on Monday, reaching $70.45. 38,336 shares of the stock were exchanged, compared to its average volume of 204,107. West Fraser Timber Co. Ltd. has a twelve month low of $68.63 and a twelve month high of $102.40. The company has a market capitalization of $5.40 billion, a P/E ratio of -40.26 and a beta of 1.15. The stock has a 50 day simple moving average of $74.15 and a 200-day simple moving average of $76.81. 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 (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 analysts' consensus estimates of $0.36 by ($0.74). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. As a group, sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.
West Fraser Timber Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Thursday, June 26th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. West Fraser Timber's payout ratio is -73.14%.
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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