Moors & Cabot Inc. Acquires 190 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Moors & Cabot Inc. grew its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,270 shares of the company’s stock after buying an additional 190 shares during the period. Moors & Cabot Inc.’s holdings in West Fraser Timber were worth $328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Hsbc Holdings PLC lifted its stake in West Fraser Timber by 29.3% in the 4th quarter. Hsbc Holdings PLC now owns 268,764 shares of the company’s stock worth $23,005,000 after purchasing an additional 60,823 shares in the last quarter. Manning & Napier Advisors LLC purchased a new position in West Fraser Timber during the 2nd quarter valued at approximately $42,886,000. Cumberland Partners Ltd bought a new stake in West Fraser Timber in the 1st quarter worth approximately $1,011,000. GRS Advisors LLC raised its holdings in shares of West Fraser Timber by 14.7% during the 4th quarter. GRS Advisors LLC now owns 455,910 shares of the company’s stock worth $39,017,000 after acquiring an additional 58,488 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of West Fraser Timber by 36.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 83,705 shares of the company’s stock valued at $7,163,000 after acquiring an additional 22,438 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

WFG has been the subject of several research reports. BMO Capital Markets increased 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 shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $105.60.

West Fraser Timber Trading Down 0.3 %

WFG stock opened at $95.11 on Friday. The firm’s fifty day simple moving average is $85.93 and its two-hundred day simple moving average is $82.03. The stock has a market capitalization of $7.50 billion, a price-to-earnings ratio of -78.63 and a beta of 1.16. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. West Fraser Timber Co. Ltd. has a twelve month low of $64.11 and a twelve month high of $95.81.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, July 24th. The company reported $1.20 EPS 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 company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the prior year, the company earned ($0.03) earnings per share. West Fraser Timber’s revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.237 per share. This represents a $0.95 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s payout ratio is -77.69%.

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.