Anson Funds Management LP Invests $680,000 in West Fraser Timber Co. Ltd. $WFG

Anson Funds Management LP purchased a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 10,000 shares of the company’s stock, valued at approximately $680,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. boosted its stake in West Fraser Timber by 75.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 552 shares of the company’s stock worth $38,000 after purchasing an additional 238 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in shares of West Fraser Timber by 212.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 780 shares of the company’s stock worth $52,000 after purchasing an additional 530 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of West Fraser Timber by 346.6% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,090 shares of the company’s stock worth $153,000 after purchasing an additional 1,622 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its position in shares of West Fraser Timber by 5.4% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 3,874 shares of the company’s stock valued at $263,000 after purchasing an additional 200 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in shares of West Fraser Timber by 29.8% in the second quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock valued at $291,000 after purchasing an additional 912 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on WFG shares. Royal Bank Of Canada reduced their price objective on West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, December 18th. Raymond James Financial raised West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 target price for the company in a research note on Wednesday, January 14th. Canadian Imperial Bank of Commerce lowered West Fraser Timber from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 9th. Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $82.67.

West Fraser Timber Trading Up 1.6%

Shares of WFG stock opened at $64.47 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.13 and a quick ratio of 0.86. The firm has a market cap of $4.90 billion, a PE ratio of -5.29 and a beta of 1.12. The company has a 50-day moving average of $68.65 and a two-hundred day moving average of $66.35. West Fraser Timber Co. Ltd. has a 1-year low of $57.34 and a 1-year high of $79.22.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($2.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.71) by $0.29. West Fraser Timber had a negative net margin of 17.15% and a negative return on equity of 5.69%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 13th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.28 dividend on an annualized basis and a yield of 2.0%. West Fraser Timber’s payout ratio is presently -10.51%.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.