Pacifica Partners Inc. Grows Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Pacifica Partners Inc. lifted its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 816.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,386 shares of the company’s stock after purchasing an additional 11,925 shares during the quarter. Pacifica Partners Inc.’s holdings in West Fraser Timber were worth $1,306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WFG. Park Place Capital Corp purchased a new position in shares of West Fraser Timber during the 2nd quarter worth $31,000. Signaturefd LLC boosted its holdings in West Fraser Timber by 60.0% during the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after acquiring an additional 186 shares during the period. Ensign Peak Advisors Inc purchased a new position in West Fraser Timber during the 2nd quarter valued at about $44,000. UniSuper Management Pty Ltd boosted its holdings in West Fraser Timber by 100.0% during the 1st 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. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in West Fraser Timber during the 1st quarter valued at about $103,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on WFG shares. BMO Capital Markets raised their target price on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada raised 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 equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, West Fraser Timber presently has a consensus rating of “Buy” and an average target price of $105.60.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $97.08 on Tuesday. 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 Co. Ltd. has a 1-year low of $64.11 and a 1-year high of $99.24. The stock’s 50 day moving average price is $89.77 and its 200 day moving average price is $83.25.

West Fraser Timber (NYSE:WFG) last posted its quarterly 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). The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share. Equities analysts anticipate that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current year.

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 26th will be issued a $0.237 dividend. The ex-dividend date is Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 0.98%. West Fraser Timber’s dividend payout ratio (DPR) is -78.51%.

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.