APG Asset Management N.V. Makes New $338,000 Investment in West Fraser Timber Co. Ltd. (NYSE:WFG)

APG Asset Management N.V. bought a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,723 shares of the company’s stock, valued at approximately $338,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thrivent Financial for Lutherans acquired a new position in West Fraser Timber during the 2nd quarter valued at approximately $52,645,000. Manning & Napier Advisors LLC acquired a new position in shares of West Fraser Timber during the second quarter valued at $42,886,000. 1832 Asset Management L.P. grew its position in shares of West Fraser Timber by 178.5% during the first quarter. 1832 Asset Management L.P. now owns 835,774 shares of the company’s stock worth $72,236,000 after acquiring an additional 535,708 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of West Fraser Timber by 161.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 509,429 shares of the company’s stock worth $43,597,000 after acquiring an additional 314,750 shares during the period. Finally, Triasima Portfolio Management inc. bought a new stake in West Fraser Timber in the 1st quarter valued at about $15,148,000. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BMO Capital Markets upped their target price on shares of West Fraser Timber from $92.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada increased their price objective on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Four equities 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 MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $105.60.

West Fraser Timber Stock Up 0.7 %

WFG stock opened at $98.06 on Wednesday. The firm’s 50-day moving average is $88.73 and its two-hundred day moving average is $82.85. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $7.70 billion, a price-to-earnings ratio of -81.04 and a beta of 1.16. West Fraser Timber Co. Ltd. has a 52 week low of $64.11 and a 52 week high of $98.41.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm 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 earned ($0.03) earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 26th will be given a dividend of $0.237 per share. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 0.97%. West Fraser Timber’s dividend payout ratio (DPR) is -78.51%.

About West Fraser Timber

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.