West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Acquired by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 18.4% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 989,374 shares of the company’s stock after purchasing an additional 153,600 shares during the period. 1832 Asset Management L.P. owned 1.25% of West Fraser Timber worth $76,053,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ensign Peak Advisors Inc acquired a new position in shares of West Fraser Timber in the 2nd quarter worth approximately $44,000. Thrivent Financial for Lutherans bought a new position in West Fraser Timber during the second quarter worth $52,645,000. Canada Pension Plan Investment Board boosted its holdings in West Fraser Timber by 1.9% in the second quarter. Canada Pension Plan Investment Board now owns 236,319 shares of the company’s stock worth $18,146,000 after purchasing an additional 4,300 shares during the period. XTX Topco Ltd bought a new stake in West Fraser Timber during the second quarter valued at $755,000. Finally, Moors & Cabot Inc. raised its holdings in shares of West Fraser Timber by 4.7% during the second quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock worth $328,000 after purchasing an additional 190 shares during the period. 40.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

West Fraser Timber Trading Down 0.3 %

NYSE:WFG opened at $95.11 on Monday. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of -78.60 and a beta of 1.16. The business has a fifty day moving average of $86.28 and a 200-day moving average of $82.12. West Fraser Timber Co. Ltd. has a 1 year low of $64.11 and a 1 year high of $95.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 earnings per share (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 company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business earned ($0.03) earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Equities analysts predict that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 26th will be paid a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s dividend payout ratio is presently -77.69%.

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.