International Assets Investment Management LLC acquired a new position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 111,682 shares of the company's stock, valued at approximately $9,558,000. International Assets Investment Management LLC owned 0.14% of West Fraser Timber at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of WFG. Vanguard Group Inc. boosted its stake in West Fraser Timber by 1.5% during the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company's stock worth $202,065,000 after acquiring an additional 39,929 shares in the last quarter. Royal Bank of Canada grew its stake in shares of West Fraser Timber by 9.0% in the 3rd quarter. Royal Bank of Canada now owns 2,319,488 shares of the company's stock worth $168,256,000 after buying an additional 191,613 shares during the last quarter. Letko Brosseau & Associates Inc. increased its position in West Fraser Timber by 0.5% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 1,125,166 shares of the company's stock valued at $82,066,000 after buying an additional 5,632 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in West Fraser Timber by 8.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 997,159 shares of the company's stock valued at $72,391,000 after buying an additional 74,655 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its stake in West Fraser Timber by 6.7% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 579,373 shares of the company's stock valued at $42,223,000 after buying an additional 36,132 shares during the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have recently issued reports on the company. TD Securities lifted their price target on West Fraser Timber from $115.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday, April 16th. Royal Bank of Canada reiterated an "outperform" rating and issued a $97.00 target price on shares of West Fraser Timber in a research note on Thursday, March 28th. Scotiabank set a $100.00 price target on shares of West Fraser Timber and gave the company an "outperform" rating in a research report on Monday, January 22nd. Finally, Raymond James boosted their price objective on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a report on Tuesday, February 6th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $106.25.
Read Our Latest Analysis on WFG
West Fraser Timber Stock Performance
Shares of WFG stock traded down $0.84 during trading hours on Tuesday, reaching $77.39. The company had a trading volume of 137,457 shares, compared to its average volume of 148,744. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.33 and a current ratio of 2.33. The business has a fifty day moving average price of $81.34 and a 200-day moving average price of $79.33. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $90.17. The firm has a market cap of $6.14 billion, a PE ratio of -64.49 and a beta of 1.19.
West Fraser Timber (NYSE:WFG - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of ($0.06) by $0.48. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.47 billion. West Fraser Timber had a negative net margin of 1.39% and a positive return on equity of 2.35%. The firm's revenue was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.52) EPS. Sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.73 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 Thursday, April 4th. Shareholders of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date of this dividend was Thursday, March 14th. West Fraser Timber's dividend payout ratio is -49.59%.
About West Fraser Timber
(
Free Report)
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.
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