West Fraser Timber Co. Ltd. $WFG Shares Purchased by Hsbc Holdings PLC

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 shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 116.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,395 shares of the company's stock after buying 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 SEC filing.

Other large investors also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. bought a new position in West Fraser Timber during the 4th quarter worth approximately $52,000. GAMMA Investing LLC lifted its holdings in West Fraser Timber by 7,588.9% during the 1st 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. lifted its holdings in West Fraser Timber by 6.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock worth $216,000 after buying an additional 181 shares during the last quarter. Gulf International Bank UK Ltd lifted its holdings in West Fraser Timber by 1,396.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company's stock worth $230,000 after buying an additional 2,793 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in West Fraser Timber during the 1st quarter worth approximately $251,000. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Stock Up 0.1%

WFG traded up $0.05 during trading hours on Friday, hitting $72.86. The company's stock had a trading volume of 217,055 shares, compared to its average volume of 258,796. West Fraser Timber Co. Ltd. has a fifty-two week low of $68.63 and a fifty-two week 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 company has a 50-day simple moving average of $73.57 and a 200 day simple moving average of $74.85.

West Fraser Timber (NYSE:WFG - Get Free Report) last released 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 company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. As a group, equities research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The company also recently declared 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. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, June 26th. West Fraser Timber's dividend payout ratio (DPR) is presently -73.14%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WFG. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a research report on Monday, July 21st. Wall Street Zen cut West Fraser Timber from a "hold" rating to a "sell" rating in a research report 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 report on Friday, July 25th. 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, West Fraser Timber currently has an average rating of "Moderate Buy" and a consensus price target of $100.00.

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.