West Fraser Timber Co. Ltd. $WFG Shares Acquired by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. increased its holdings in West Fraser Timber by 10.8% during the first quarter, now owning approximately 3.10% of the company valued at around $184.2 million.
• Analysts have mixed opinions on West Fraser Timber, with Raymond James maintaining a "market perform" rating and TD Securities reducing their target price from $98 to $96 while still rating the stock as a "buy."
• West Fraser Timber reported a loss of $0.38 per share in its latest earnings results, which missed the consensus estimate, and has an annualized dividend yield of 1.7% following its recent dividend payout.

Price T Rowe Associates Inc. MD grew its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,394,607 shares of the company's stock after acquiring an additional 232,558 shares during the quarter. Price T Rowe Associates Inc. MD owned about 3.10% of West Fraser Timber worth $184,242,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Candriam S.C.A. bought a new position in West Fraser Timber during the 1st quarter valued at about $2,126,000. Hsbc Holdings PLC boosted its position in shares of West Fraser Timber by 116.1% during the first quarter. Hsbc Holdings PLC now owns 20,395 shares of the company's stock valued at $1,566,000 after buying an additional 10,957 shares during the period. Quantbot Technologies LP grew its stake in shares of West Fraser Timber by 316.7% during the first quarter. Quantbot Technologies LP now owns 24,589 shares of the company's stock valued at $1,892,000 after buying an additional 18,688 shares during the last quarter. Wellington Management Group LLP purchased a new stake in shares of West Fraser Timber in the first quarter worth approximately $931,000. Finally, Korea Investment CORP raised its holdings in shares of West Fraser Timber by 6.3% in the first quarter. Korea Investment CORP now owns 62,101 shares of the company's stock worth $4,769,000 after buying an additional 3,686 shares during the period. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Stock Up 0.1%

Shares of WFG traded up $0.05 during mid-day trading on Friday, hitting $72.86. The company's stock had a trading volume of 217,055 shares, compared to its average volume of 262,073. 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's 50-day moving average is $73.57 and its 200-day moving average is $74.85. West Fraser Timber Co. Ltd. has a 52-week low of $68.63 and a 52-week high of $102.40. The firm has a market capitalization of $5.59 billion, a price-to-earnings ratio of -41.63 and a beta of 1.15.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced 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 net margin of 2.18% and a negative return on equity of 0.85%. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. On average, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm 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. This represents a $1.28 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, June 26th. West Fraser Timber's payout ratio is -73.14%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Raymond James Financial restated a "market perform" rating on shares of West Fraser Timber in a report 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 cut their price target on shares of West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average 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.