TD Asset Management Inc Raises Stock Position in West Fraser Timber Co. Ltd. $WFG

TD Asset Management Inc increased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 178,884 shares of the company’s stock after purchasing an additional 3,507 shares during the quarter. TD Asset Management Inc’s holdings in West Fraser Timber were worth $13,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC purchased a new stake in West Fraser Timber in the second quarter worth approximately $27,000. Parallel Advisors LLC boosted its stake in shares of West Fraser Timber by 265.1% during the 2nd quarter. Parallel Advisors LLC now owns 398 shares of the company’s stock worth $29,000 after acquiring an additional 289 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of West Fraser Timber by 7,588.9% during the 1st quarter. GAMMA Investing LLC now owns 692 shares of the company’s stock worth $53,000 after acquiring an additional 683 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of West Fraser Timber by 6.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company’s stock worth $216,000 after acquiring an additional 181 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its stake in shares of West Fraser Timber by 1,396.5% during the 1st quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company’s stock worth $230,000 after acquiring an additional 2,793 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Down 0.1%

Shares of WFG stock opened at $67.06 on Friday. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of -38.32 and a beta of 1.13. West Fraser Timber Co. Ltd. has a one year low of $66.00 and a one year high of $100.33. The company’s fifty day moving average price is $71.57 and its 200-day moving average price is $73.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 1.61.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, July 23rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.74). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. Sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Thursday, September 25th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Thursday, September 25th. West Fraser Timber’s payout ratio is currently -73.14%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Wall Street Zen cut shares of West Fraser Timber from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Weiss Ratings reiterated a “sell (d)” rating on shares of West Fraser Timber in a research note on Wednesday, October 8th. Raymond James Financial dropped their price target on shares of West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating on the stock in a research note on Wednesday. Finally, TD Securities dropped their price target on shares of West Fraser Timber from $98.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. Four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $96.00.

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.