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March 29, 2022

West Fraser Timber Co. Ltd.

Cim LLC reduced its stake in West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,340 shares of the company’s stock after selling 696 shares during the quarter. Cim LLC’s holdings in West Fraser Timber were worth $2,296,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. raised its position in shares of West Fraser Timber by 33.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 20,042 shares of the company’s stock valued at $1,686,000 after purchasing an additional 5,039 shares during the last quarter. Mn Services Vermogensbeheer B.V. purchased a new position in West Fraser Timber during the 3rd quarter worth approximately $2,291,000. Voloridge Investment Management LLC purchased a new position in West Fraser Timber during the 3rd quarter worth approximately $1,755,000. Moors & Cabot Inc. acquired a new stake in shares of West Fraser Timber during the 3rd quarter worth approximately $130,000. Finally, Gotham Asset Management LLC acquired a new stake in shares of West Fraser Timber during the 3rd quarter worth approximately $200,000. 71.22% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have recently commented on WFG. CIBC raised shares of West Fraser Timber from a “neutral” rating to a “buy” rating and set a $118.60 price objective on the stock in a research note on Monday, January 10th. Scotiabank lifted their price target on shares of West Fraser Timber from C$143.00 to C$147.00 in a research note on Wednesday, February 16th. Finally, Zacks Investment Research raised shares of West Fraser Timber from a “hold” rating to a “strong-buy” rating and set a $101.00 price target on the stock in a research note on Friday, December 17th. Five research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $130.09.Shares of NYSE WFG traded down $0.88 during trading on Friday, hitting $86.56. 280,902 shares of the company were exchanged, compared to its average volume of 335,746. West Fraser Timber Co. Ltd. has a 12-month low of $64.14 and a 12-month high of $102.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 2.67. The company has a fifty day moving average price of $94.72 and a 200-day moving average price of $89.33. The firm has a market capitalization of $9.15 billion and a PE ratio of 3.25.

West Fraser Timber (NYSE:WFG ) last issued its quarterly earnings data on Monday, February 14th. The company reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.78 by ($1.65). The company had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.61 billion. West Fraser Timber had a net margin of 28.02% and a return on equity of 39.91%. During the same quarter last year, the firm posted $3.78 earnings per share. Research analysts anticipate that West Fraser Timber Co. Ltd. will post 17.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 5th. Investors of record on Friday, March 18th will be issued a $0.25 dividend. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.16. This represents a $1.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, March 17th. West Fraser Timber’s payout ratio is 3.76%.

West Fraser Timber Company 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 and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.

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