Intact Investment Management Inc. Buys 3,700 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Intact Investment Management Inc. raised its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 18.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,900 shares of the company's stock after purchasing an additional 3,700 shares during the period. Intact Investment Management Inc.'s holdings in West Fraser Timber were worth $1,836,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of West Fraser Timber in the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new position in shares of West Fraser Timber in the fourth quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of West Fraser Timber in the fourth quarter worth about $52,000. GAMMA Investing LLC increased its stake in shares of West Fraser Timber by 7,588.9% in the first quarter. GAMMA Investing LLC now owns 692 shares of the company's stock worth $53,000 after purchasing an additional 683 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of West Fraser Timber by 22.5% in the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company's stock worth $93,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada reduced their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. TD Securities reduced their price objective on shares of West Fraser Timber from $99.00 to $98.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Raymond James Financial reduced their price objective on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Wall Street Zen raised shares of West Fraser Timber from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, West Fraser Timber has a consensus rating of "Moderate Buy" and an average target price of $100.40.

West Fraser Timber Stock Down 1.3%

NYSE:WFG traded down $0.93 during mid-day trading on Friday, hitting $73.12. 260,846 shares of the stock traded hands, compared to its average volume of 178,819. The business's 50-day moving average price is $74.27 and its 200 day moving average price is $79.75. The company has a market cap of $5.62 billion, a PE ratio of -430.14 and a beta of 1.17. West Fraser Timber Co. Ltd. has a 12-month low of $69.48 and a 12-month high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). West Fraser Timber had a net margin of 0.03% and a return on equity of 0.99%. The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. Analysts anticipate 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 announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Thursday, June 26th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.75%. West Fraser Timber's payout ratio is presently -752.94%.

West Fraser Timber Company 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.