KGH Ltd Raises Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

KGH Ltd lifted its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 38.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,452 shares of the company’s stock after buying an additional 52,452 shares during the period. West Fraser Timber makes up 0.8% of KGH Ltd’s investment portfolio, making the stock its 22nd largest holding. KGH Ltd owned about 0.24% of West Fraser Timber worth $14,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Park Place Capital Corp purchased a new position in shares of West Fraser Timber during the second quarter worth about $31,000. Signaturefd LLC grew its stake in West Fraser Timber by 60.0% during the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after buying an additional 186 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in West Fraser Timber during the fourth quarter worth approximately $43,000. Ensign Peak Advisors Inc purchased a new stake in West Fraser Timber in the second quarter valued at approximately $44,000. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of 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 acquiring an additional 400 shares during the period. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WFG. Royal Bank of Canada lifted their target price on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets lifted 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 note on Tuesday, July 30th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, West Fraser Timber currently has a consensus rating of “Buy” and a consensus target price of $105.60.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $97.37 on Tuesday. 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 business has a 50 day simple moving average of $88.35 and a 200-day simple moving average of $82.73. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $97.60. The stock has a market capitalization of $7.65 billion, a PE ratio of -80.47 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) EPS. 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 firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be issued a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, September 26th. West Fraser Timber’s dividend payout ratio is presently -78.51%.

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.