Hsbc Holdings PLC Buys 10,957 Shares of West Fraser Timber Co. Ltd. $WFG

Key Points

• Hsbc Holdings PLC increased its stake in West Fraser Timber Co. Ltd. by 116.1% in the first quarter, owning 20,395 shares worth approximately $1.57 million.
• West Fraser Timber reported a loss of $0.38 per share in its latest earnings, missing estimates, with revenues of $1.53 billion compared to expectations of $1.61 billion.
• The company announced a quarterly dividend of $0.32 per share, with a yield of 1.8% and a dividend payout ratio of -73.14%.

Hsbc Holdings PLC grew its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 116.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 20,395 shares of the company's stock after acquiring an additional 10,957 shares during the period. Hsbc Holdings PLC's holdings in West Fraser Timber were worth $1,566,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in West Fraser Timber during the fourth quarter worth $52,000. GAMMA Investing LLC raised its stake in West Fraser Timber by 7,588.9% during the first quarter. GAMMA Investing LLC now owns 692 shares of the company's stock worth $53,000 after buying an additional 683 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in West Fraser Timber by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock worth $216,000 after acquiring an additional 181 shares in the last quarter. Gulf International Bank UK Ltd boosted its stake in West Fraser Timber by 1,396.5% during the first quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company's stock worth $230,000 after acquiring an additional 2,793 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in West Fraser Timber by 21.5% during the fourth quarter. Cetera Investment Advisers now owns 3,057 shares of the company's stock worth $265,000 after acquiring an additional 540 shares in the last quarter. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Stock Up 0.5%

WFG stock traded up $0.34 during midday trading on Wednesday, reaching $71.47. 163,451 shares of the company's stock traded hands, compared to its average volume of 253,845. The company has a market cap of $5.48 billion, a price-to-earnings ratio of -40.84 and a beta of 1.15. The firm's fifty day moving average price is $73.39 and its 200-day moving average price is $74.71. The company has a quick ratio of 1.61, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. West Fraser Timber Co. Ltd. has a 52 week low of $68.63 and a 52 week high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) 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 the consensus estimate of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. As a group, sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

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

Wall Street Analyst Weigh In

WFG has been the topic of several research analyst reports. Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a research note on Monday, July 21st. 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. Finally, TD Securities dropped their price target on 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. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, 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.