Charles Schwab Investment Management Inc. Has $29.78 Million Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Charles Schwab Investment Management Inc. lifted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 305,316 shares of the company’s stock after purchasing an additional 4,945 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.38% of West Fraser Timber worth $29,777,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Smead Capital Management Inc. lifted its stake in West Fraser Timber by 5.1% in the 3rd quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock valued at $11,507,000 after acquiring an additional 5,743 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in West Fraser Timber in the 2nd quarter valued at approximately $42,886,000. Envestnet Asset Management Inc. bought a new stake in West Fraser Timber in the 2nd quarter valued at approximately $1,862,000. Pacifica Partners Inc. lifted its stake in West Fraser Timber by 816.2% in the 3rd quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock valued at $1,306,000 after acquiring an additional 11,925 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its stake in shares of West Fraser Timber by 7.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock worth $55,683,000 after purchasing an additional 39,651 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Stock Down 0.2 %

Shares of WFG stock opened at $94.81 on Thursday. West Fraser Timber Co. Ltd. has a twelve month low of $72.56 and a twelve month high of $102.40. The company has a market cap of $7.61 billion, a P/E ratio of -74.07 and a beta of 1.19. The business has a fifty day simple moving average of $95.68 and a 200 day simple moving average of $87.46.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $1.81 earnings per share. As a group, equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.00%. West Fraser Timber’s dividend payout ratio is currently -74.22%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. BMO Capital Markets upped their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank upped their price objective on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $111.60.

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.