Public Employees Retirement System of Ohio purchased a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 33,151 shares of the company’s stock, valued at approximately $2,243,000.
Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC raised its stake in West Fraser Timber by 72.2% in the first quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock valued at $29,000 after buying an additional 184 shares during the period. EFG International AG bought a new position in shares of West Fraser Timber during the 4th quarter worth approximately $31,000. Physician Wealth Advisors Inc. boosted its stake in shares of West Fraser Timber by 177.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after acquiring an additional 370 shares during the period. Aegis Financial Corp acquired a new position in shares of West Fraser Timber during the 1st quarter worth approximately $205,000. Finally, Jain Global LLC bought a new stake in West Fraser Timber in the 3rd quarter valued at $224,000. Institutional investors and hedge funds own 40.23% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Wall Street Zen raised West Fraser Timber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of West Fraser Timber in a research report on Friday, July 31st. Royal Bank Of Canada cut their target price on shares of West Fraser Timber from $85.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Finally, Weiss Ratings lowered shares of West Fraser Timber from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, West Fraser Timber has a consensus rating of “Hold” and an average target price of $83.20.
West Fraser Timber Trading Up 2.8%
Shares of NYSE:WFG opened at $68.89 on Friday. The business’s 50 day simple moving average is $68.30 and its 200 day simple moving average is $66.38. West Fraser Timber Co. Ltd. has a 1 year low of $57.34 and a 1 year high of $76.99. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.06 and a quick ratio of 0.83. The company has a market capitalization of $5.39 billion, a P/E ratio of -4.46 and a beta of 1.00.
West Fraser Timber (NYSE:WFG – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.08). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. On average, research analysts anticipate that West Fraser Timber Co. Ltd. will post -3.77 EPS for the current fiscal year.
West Fraser Timber Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, June 25th. West Fraser Timber’s payout ratio is -8.29%.
About West Fraser Timber
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.
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