West Fraser Timber Co. Ltd. $WFG Shares Purchased by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in West Fraser Timber Co. Ltd. by 44.5%, acquiring an additional 34,599 shares during the first quarter.
• West Fraser Timber reported a negative EPS of ($0.38) for the quarter, missing analyst expectations, and had a revenue of $1.53 billion.
• The company declared a quarterly dividend of $0.32 per share, with a yield of 1.7%, despite a negative dividend payout ratio of -73.14%.

Invesco Ltd. increased its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 44.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 112,431 shares of the company's stock after acquiring an additional 34,599 shares during the period. Invesco Ltd. owned approximately 0.15% of West Fraser Timber worth $8,650,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Inspire Advisors LLC lifted its position in West Fraser Timber by 3.3% during the 1st quarter. Inspire Advisors LLC now owns 4,637 shares of the company's stock worth $357,000 after acquiring an additional 146 shares in the last quarter. Comprehensive Money Management Services LLC grew its position in shares of West Fraser Timber by 3.8% during the first quarter. Comprehensive Money Management Services LLC now owns 4,065 shares of the company's stock worth $313,000 after buying an additional 150 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in West Fraser Timber by 6.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock valued at $216,000 after acquiring an additional 181 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in West Fraser Timber by 0.7% in the first quarter. DekaBank Deutsche Girozentrale now owns 34,717 shares of the company's stock valued at $2,607,000 after acquiring an additional 251 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. raised its holdings in West Fraser Timber by 10.9% in the first quarter. Bank of Nova Scotia Trust Co. now owns 3,673 shares of the company's stock valued at $283,000 after acquiring an additional 360 shares in the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Performance

WFG stock traded up $0.05 during trading on Friday, hitting $72.86. 217,055 shares of the company's stock traded hands, compared to its average volume of 258,796. 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. The stock has a fifty day moving average price of $73.57 and a two-hundred day moving average price of $74.81. The stock 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 released its earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share 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 business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. As a group, equities 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. Investors of record on Thursday, June 26th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Thursday, June 26th. West Fraser Timber's dividend payout ratio (DPR) is -73.14%.

Analyst Ratings Changes

WFG has been the topic of several recent analyst reports. Raymond James Financial reaffirmed a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. Wall Street Zen cut shares of West Fraser Timber from a "hold" rating to a "sell" rating in a report 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. Based on data from MarketBeat.com, West Fraser Timber has an average rating of "Moderate Buy" and a consensus target price 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.