Quantbot Technologies LP Invests $1.28 Million in West Fraser Timber Co. Ltd. $WFG

Quantbot Technologies LP bought a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,894 shares of the company’s stock, valued at approximately $1,279,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC lifted its position 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 purchasing an additional 184 shares during the period. EFG International AG acquired a new position in West Fraser Timber during the 4th quarter worth approximately $31,000. Physician Wealth Advisors Inc. increased its position in 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 purchasing an additional 370 shares during the period. Aegis Financial Corp purchased a new position in shares of West Fraser Timber during the 1st quarter worth approximately $205,000. Finally, Jain Global LLC purchased a new position in shares of West Fraser Timber during the 3rd quarter worth approximately $224,000. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WFG shares. Fraser Mackenzie dropped their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st. TD Securities reissued a “buy” rating on shares of West Fraser Timber in a report on Friday, July 31st. TD Cowen decreased their target price 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. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of West Fraser Timber in a research note on Friday, July 31st. Finally, Wall Street Zen upgraded shares of West Fraser Timber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, West Fraser Timber presently has an average rating of “Hold” and a consensus price target of $83.20.

West Fraser Timber Stock Performance

Shares of WFG stock opened at $69.19 on Wednesday. The stock has a fifty day moving average price of $68.56 and a 200 day moving average price of $66.69. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.83 and a current ratio of 2.06. The stock has a market cap of $5.42 billion, a PE ratio of -4.48 and a beta of 1.00. West Fraser Timber Co. Ltd. has a 1 year low of $57.34 and a 1 year high of $76.99.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.08). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.45 billion. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. Sell-side analysts forecast that West Fraser Timber Co. Ltd. will post -3.77 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is presently -8.29%.

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.