West Fraser Timber Co. Ltd. $WFG Shares Purchased by American Century Companies Inc.

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. raised its stake 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 filing with the Securities & Exchange Commission. The institutional investor owned 84,884 shares of the company's stock after buying 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 large investors also recently added to or reduced their stakes in WFG. Deutsche Bank AG grew its holdings in West Fraser Timber by 202.1% in the 1st 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 in the last quarter. Bank of America Corp DE grew its holdings in West Fraser Timber by 200.3% in the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock valued at $27,265,000 after buying an additional 210,107 shares in the last quarter. Genus Capital Management Inc. grew its holdings in West Fraser Timber by 202.9% in the 1st quarter. Genus Capital Management Inc. now owns 84,374 shares of the company's stock valued at $6,480,000 after buying an additional 166,386 shares in the last quarter. Mackenzie Financial Corp grew its holdings in shares of West Fraser Timber by 73.7% during the 4th 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 position in shares of West Fraser Timber during the 4th quarter worth $7,165,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 2.5%

WFG traded down $1.82 during mid-day trading on Tuesday, hitting $71.09. 200,168 shares of the stock were exchanged, compared to its average volume of 253,845. The firm's fifty day moving average is $73.44 and its two-hundred day moving average is $74.74. 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 current ratio of 2.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. The company has a market cap of $5.45 billion, a PE ratio of -40.62 and a beta of 1.15.

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 (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.74). West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%.The firm had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.61 billion. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Thursday, June 26th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.8%. West Fraser Timber's dividend payout ratio is presently -73.14%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. TD Securities lowered their price target 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus 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.