West Fraser Timber Co. Ltd. $WFG Shares Bought by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers increased its holdings in West Fraser Timber by 134.2% in the 1st quarter, holding a total of 7,159 shares valued at approximately $550,000.
• West Fraser Timber reported a loss of ($0.38) per share for the last quarter, significantly missing analysts' expectations of $0.36, and had revenues of $1.53 billion against estimates of $1.61 billion.
• The company declared a quarterly dividend of $0.32, with a current annualized yield of 1.7% and a negative dividend payout ratio of -73.14%.

Cetera Investment Advisers increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 134.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,159 shares of the company's stock after acquiring an additional 4,102 shares during the quarter. Cetera Investment Advisers' holdings in West Fraser Timber were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WFG. Price T Rowe Associates Inc. MD increased its stake in 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 purchasing an additional 780,313 shares during the period. Bank of America Corp DE increased its stake in 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 purchasing an additional 210,107 shares during the period. Genus Capital Management Inc. increased its stake in 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 purchasing an additional 166,386 shares during the period. Mackenzie Financial Corp increased its stake 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 purchasing an additional 129,378 shares during the period. Finally, Crestline Management LP purchased a new stake in West Fraser Timber during the fourth quarter worth about $7,165,000. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Stock Down 2.4%

West Fraser Timber stock traded down $1.7590 during mid-day trading on Wednesday, hitting $72.1610. The company had a trading volume of 78,862 shares, compared to its average volume of 203,524. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of -41.28 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 company has a quick ratio of 1.61, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The business has a fifty day moving average of $73.76 and a 200 day moving average of $75.49.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share (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 analysts' expectations 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, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently disclosed 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 -73.14%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a research note on Monday, July 21st. Royal Bank Of Canada cut their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. TD Securities cut their price target 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. Finally, 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.