American Century Companies Inc. Buys 7,982 Shares of West Fraser Timber Co. Ltd. $WFG

Key Points

• American Century Companies Inc. increased its holdings in West Fraser Timber Co. Ltd. by 10.4%, now owning about 0.11% of the company valued at approximately $6.52 million.
• Several hedge funds, including Inspire Advisors LLC and DekaBank Deutsche Girozentrale, have also boosted their stakes in West Fraser Timber, indicating a growing interest among institutional investors.
• Despite challenges, analysts maintain a consensus "Moderate Buy" rating for West Fraser Timber with a target price of $100.00, although recent earnings missed expectations with a reported loss of ($0.38) per share.

American Century Companies Inc. increased its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 10.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 84,884 shares of the company's stock after purchasing an additional 7,982 shares during the quarter. American Century Companies Inc. owned approximately 0.11% of West Fraser Timber worth $6,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFG. Raymond James Financial Inc. bought a new position in West Fraser Timber in the fourth quarter worth $487,000. Dimensional Fund Advisors LP lifted its holdings in shares of West Fraser Timber by 11.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 138,435 shares of the company's stock valued at $11,982,000 after acquiring an additional 14,189 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of West Fraser Timber by 25.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 180,647 shares of the company's stock valued at $15,662,000 after acquiring an additional 36,935 shares during the period. Bank of America Corp DE lifted 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 valued at $27,265,000 after acquiring an additional 210,107 shares during the period. Finally, Cetera Investment Advisers lifted its holdings in shares of West Fraser Timber by 21.5% during the fourth quarter. Cetera Investment Advisers now owns 3,057 shares of the company's stock valued at $265,000 after acquiring an additional 540 shares during the period. 40.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on WFG shares. Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. TD Securities cut their price objective on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating for the company in a report on Friday, July 25th. Finally, Wall Street Zen cut West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $100.00.

West Fraser Timber Price Performance

Shares of West Fraser Timber stock traded up $0.05 during trading on Monday, reaching $72.86. The company's stock had a trading volume of 217,055 shares, compared to its average volume of 258,796. The stock has a 50-day moving average price of $73.57 and a two-hundred day moving average price of $74.81. 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 Co. Ltd. has a one year low of $68.63 and a one year high of $102.40. The stock has a market capitalization of $5.59 billion, a P/E ratio of -41.63 and a beta of 1.15.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly 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). West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. The business had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.61 billion. As a group, sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS 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. Shareholders of record on Thursday, June 26th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, June 26th. West Fraser Timber's payout ratio is currently -73.14%.

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.