44,826 Shares in West Fraser Timber Co. Ltd. $WFG Purchased by Impala Asset Management LLC

Impala Asset Management LLC acquired a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG) during the first quarter, HoldingsChannel.com reports. The institutional investor acquired 44,826 shares of the company’s stock, valued at approximately $2,930,000. West Fraser Timber comprises about 1.4% of Impala Asset Management LLC’s portfolio, making the stock its 14th largest position.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position in shares of West Fraser Timber by 72.2% during the 1st quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock worth $29,000 after purchasing an additional 184 shares during the last quarter. Wells Fargo & Company MN grew its holdings in West Fraser Timber by 2.5% during the 4th quarter. Wells Fargo & Company MN now owns 7,832 shares of the company’s stock valued at $478,000 after buying an additional 192 shares during the last quarter. Physician Wealth Advisors Inc. increased its position in West Fraser Timber by 177.0% during the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after buying an additional 370 shares in the last quarter. Inspire Advisors LLC boosted its stake in shares of 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 acquiring an additional 491 shares during the last quarter. Finally, EFG International AG purchased a new stake in West Fraser Timber during the 4th quarter worth about $31,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Stock Performance

West Fraser Timber stock opened at $67.34 on Thursday. The stock has a fifty day moving average price of $66.91 and a 200 day moving average price of $66.66. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $76.99. The firm has a market capitalization of $5.27 billion, a P/E ratio of -4.48 and a beta of 1.00. 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 (NYSE:WFG) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($1.17). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. West Fraser Timber had a negative return on equity of 9.67% and a negative net margin of 21.86%. Equities research analysts anticipate that West Fraser Timber Co. Ltd. will post -3.97 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. West Fraser Timber’s dividend payout ratio (DPR) is currently -8.51%.

Analyst Upgrades and Downgrades

WFG has been the subject of several analyst reports. TD Securities reissued a “buy” rating and issued a $86.00 target price on shares of West Fraser Timber in a research note on Friday, May 1st. Royal Bank Of Canada lifted their price target on shares of West Fraser Timber from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a research report on Friday, July 17th. Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. Finally, Raymond James Financial lowered shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $85.00 to $75.00 in a research report on Thursday, April 23rd. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $83.60.

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.