Wellington Management Group LLP Makes New Investment in West Fraser Timber Co. Ltd. $WFG

Key Points

• Wellington Management Group LLP made a new investment in West Fraser Timber Co. Ltd. worth approximately $931,000, acquiring 12,125 shares in the first quarter of the year.
• West Fraser Timber recently reported a quarterly loss, with an EPS of (\$0.38), missing estimates and generating revenue of $1.53 billion, below the expected $1.61 billion.
• Analysts have mixed ratings on West Fraser Timber, with a consensus rating of “Moderate Buy” and a consensus price target of $100.00 for the stock.

Wellington Management Group LLP acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,125 shares of the company's stock, valued at approximately $931,000.

Other institutional investors also recently modified their holdings of the company. Deutsche Bank AG boosted 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 buying an additional 264,322 shares during the period. Bank of America Corp DE boosted its position in 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 worth $27,265,000 after buying an additional 210,107 shares during the period. Genus Capital Management Inc. lifted its position in shares of West Fraser Timber by 202.9% in the 1st quarter. Genus Capital Management Inc. now owns 84,374 shares of the company's stock worth $6,480,000 after purchasing an additional 166,386 shares during the period. Mackenzie Financial Corp raised its holdings in West Fraser Timber by 73.7% during the fourth quarter. Mackenzie Financial Corp now owns 304,826 shares of the company's stock worth $26,384,000 after buying an additional 129,378 shares during the last quarter. Finally, Crestline Management LP bought a new stake in shares of West Fraser Timber in the 4th quarter worth $7,165,000. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Trading Up 2.2%

Shares of West Fraser Timber stock traded up $1.63 during trading on Friday, hitting $74.28. The stock had a trading volume of 68,788 shares, compared to its average volume of 210,066. 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 company has a market capitalization of $5.69 billion, a PE ratio of -42.43 and a beta of 1.15. West Fraser Timber Co. Ltd. has a 1 year low of $68.63 and a 1 year high of $102.40. The stock has a 50 day simple moving average of $73.36 and a 200 day simple moving average of $74.66.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its earnings results 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). The firm had revenue of $1.53 billion during 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%. On average, research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Thursday, June 26th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, June 26th. West Fraser Timber's dividend payout ratio is currently -73.14%.

Analyst Ratings Changes

WFG has been the subject of a number of recent research reports. TD Securities lowered their price objective on shares of 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 cut 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. Four investment 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $100.00.

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.