Acadian Asset Management LLC Takes Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Acadian Asset Management LLC bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,200 shares of the company’s stock, valued at approximately $398,000.

Several other large investors have also recently bought and sold shares of the stock. Park Place Capital Corp bought a new stake in West Fraser Timber during the second quarter worth $31,000. Signaturefd LLC grew its holdings in West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares during the period. ICA Group Wealth Management LLC acquired a new position in West Fraser Timber during the fourth quarter worth approximately $43,000. UniSuper Management Pty Ltd raised its stake in West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $69,000 after buying an additional 400 shares during the period. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of West Fraser Timber in the first quarter valued at approximately $103,000. 40.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WFG shares. Royal Bank of Canada boosted their target price on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets increased their price objective on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $105.60.

West Fraser Timber Stock Performance

WFG opened at $92.56 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. The company has a market capitalization of $7.30 billion, a PE ratio of -76.45 and a beta of 1.16. The business has a fifty day simple moving average of $85.22 and a 200 day simple moving average of $81.86. West Fraser Timber Co. Ltd. has a 1 year low of $64.11 and a 1 year high of $93.62.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.09). West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the company posted ($0.03) earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Research analysts expect that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current year.

West Fraser Timber Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.237 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.02%. West Fraser Timber’s dividend payout ratio is presently -77.69%.

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.