Marnell Management LLC Invests $483,000 in West Fraser Timber Co. Ltd. $WFG

Marnell Management LLC bought a new position in West Fraser Timber Co. Ltd. (NYSE:WFG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,900 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kestra Advisory Services LLC lifted its stake in shares of West Fraser Timber by 26.2% in the fourth quarter. Kestra Advisory Services LLC now owns 6,975 shares of the company’s stock worth $426,000 after buying an additional 1,450 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in West Fraser Timber by 12.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 227,962 shares of the company’s stock valued at $13,934,000 after purchasing an additional 25,330 shares during the period. Inspire Advisors LLC lifted its position in West Fraser Timber by 9.0% during the fourth quarter. Inspire Advisors LLC now owns 5,967 shares of the company’s stock valued at $365,000 after purchasing an additional 491 shares during the period. Bank of Nova Scotia lifted its position in West Fraser Timber by 2.5% during the fourth quarter. Bank of Nova Scotia now owns 91,022 shares of the company’s stock valued at $5,568,000 after purchasing an additional 2,210 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in West Fraser Timber by 11.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 342,765 shares of the company’s stock valued at $20,997,000 after purchasing an additional 34,275 shares during the period. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Down 0.1%

WFG opened at $68.96 on Monday. The company has a current ratio of 1.84, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. West Fraser Timber Co. Ltd. has a 1-year low of $57.34 and a 1-year high of $78.55. The company has a market capitalization of $5.40 billion, a PE ratio of -4.59 and a beta of 0.99. The firm’s 50 day simple moving average is $64.39 and its two-hundred day simple moving average is $65.13.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, April 29th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($1.17). West Fraser Timber had a negative return on equity of 9.67% and a negative net margin of 21.86%.The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities analysts forecast that West Fraser Timber Co. Ltd. will post -3.99 EPS for the current year.

West Fraser Timber Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 13th. Shareholders of record on Thursday, June 25th will be given a $0.32 dividend. The ex-dividend date is Thursday, June 25th. This represents a $1.28 annualized dividend and a yield of 1.9%. West Fraser Timber’s dividend payout ratio (DPR) is presently -8.51%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on WFG shares. Raymond James Financial downgraded shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $85.00 to $75.00 in a research report on Thursday, April 23rd. TD Cowen lowered their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. TD Securities restated a “buy” rating and set a $86.00 price objective on shares of West Fraser Timber in a research report on Friday, May 1st. Fraser Mackenzie lowered their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Finally, Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $82.60.

West Fraser Timber 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.