Creative Planning Acquires 1,800 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Creative Planning raised its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 76.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,158 shares of the company’s stock after acquiring an additional 1,800 shares during the quarter. Creative Planning’s holdings in West Fraser Timber were worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new position in shares of West Fraser Timber during the 2nd quarter valued at $52,645,000. Manning & Napier Advisors LLC purchased a new position in shares of West Fraser Timber during the 2nd 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 1st quarter. 1832 Asset Management L.P. now owns 835,774 shares of the company’s stock valued at $72,236,000 after purchasing an additional 535,708 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of West Fraser Timber by 161.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 509,429 shares of the company’s stock valued at $43,597,000 after purchasing an additional 314,750 shares in the last quarter. Finally, Galibier Capital Management Ltd. grew its position in shares of West Fraser Timber by 152.3% during the 2nd quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company’s stock valued at $21,474,000 after purchasing an additional 168,802 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Down 0.2 %

WFG opened at $97.60 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03. West Fraser Timber Co. Ltd. has a 1-year low of $64.11 and a 1-year high of $102.40. The company has a market capitalization of $7.70 billion, a PE ratio of -80.66 and a beta of 1.16. The firm’s 50 day simple moving average is $91.97 and its two-hundred day simple moving average is $84.01.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.09). The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate 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 revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.03) earnings per share. As a group, equities analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current year.

West Fraser Timber Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders 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 0.97%. West Fraser Timber’s payout ratio is -77.69%.

Analyst Ratings Changes

A number of research firms have recently commented on WFG. BMO Capital Markets boosted their price target 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 stock an “outperform” rating in a research report on Friday, July 26th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $105.60.

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.