Bfsg LLC Purchases New Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Bfsg LLC purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 496 shares of the company’s stock, valued at approximately $42,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in West Fraser Timber by 1.5% during the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company’s stock valued at $202,065,000 after acquiring an additional 39,929 shares during the period. Bank of Nova Scotia Trust Co. increased its stake in West Fraser Timber by 16.3% during the third quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock valued at $236,000 after acquiring an additional 455 shares during the period. Hudson Bay Capital Management LP boosted its holdings in West Fraser Timber by 47.6% during the third quarter. Hudson Bay Capital Management LP now owns 155,000 shares of the company’s stock valued at $11,244,000 after purchasing an additional 50,000 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in West Fraser Timber during the third quarter valued at approximately $1,798,000. Finally, Royal Bank of Canada boosted its holdings in West Fraser Timber by 9.0% during the third quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock valued at $168,256,000 after purchasing an additional 191,613 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WFG shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $97.00 price objective on shares of West Fraser Timber in a report on Thursday, March 28th. Scotiabank set a $100.00 price objective on West Fraser Timber and gave the company an “outperform” rating in a report on Monday, January 22nd. TD Securities lifted their price objective on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Raymond James lifted their price objective on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. Five investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $106.25.

West Fraser Timber Stock Up 0.3 %

Shares of WFG opened at $78.91 on Friday. The company has a market capitalization of $6.27 billion, a P/E ratio of -65.21 and a beta of 1.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.45. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $90.17. The business’s 50 day simple moving average is $81.42 and its 200-day simple moving average is $78.70.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Tuesday, April 23rd. The company reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.48. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.47 billion. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. West Fraser Timber’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.52) EPS. As a group, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 3.56 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Thursday, March 14th. West Fraser Timber’s payout ratio is currently -49.59%.

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.