TD Asset Management Inc Increases Stock Holdings in West Fraser Timber Co. Ltd. $WFG

TD Asset Management Inc grew its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 41.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 252,611 shares of the company’s stock after purchasing an additional 73,727 shares during the quarter. TD Asset Management Inc’s holdings in West Fraser Timber were worth $17,177,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in WFG. Physician Wealth Advisors Inc. grew its position in West Fraser Timber by 75.8% during the third quarter. Physician Wealth Advisors Inc. now owns 552 shares of the company’s stock valued at $38,000 after buying an additional 238 shares during the period. Jones Financial Companies Lllp raised its position in West Fraser Timber by 212.0% in the third quarter. Jones Financial Companies Lllp now owns 780 shares of the company’s stock worth $52,000 after acquiring an additional 530 shares during the period. PNC Financial Services Group Inc. boosted its stake 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 acquiring 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% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,874 shares of the company’s stock valued at $263,000 after acquiring an additional 200 shares during the period. Finally, Sei Investments Co. increased its stake in shares of West Fraser Timber by 29.8% in the 2nd quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock worth $291,000 after purchasing an additional 912 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

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

West Fraser Timber Stock Up 1.8%

WFG opened at $66.43 on Monday. The company has a market capitalization of $5.05 billion, a PE ratio of -5.45 and a beta of 1.12. The firm has a 50-day simple moving average of $67.80 and a two-hundred day simple moving average of $66.93. The company has a quick ratio of 0.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.05. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $80.73.

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

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 13th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, March 13th. West Fraser Timber’s dividend payout ratio is -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.