316,578 Shares in West Fraser Timber Co. Ltd. $WFG Purchased by Wellington Management Group LLP

Wellington Management Group LLP acquired a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG) in the second quarter, HoldingsChannel.com reports. The fund acquired 316,578 shares of the company’s stock, valued at approximately $21,429,000.

A number of other institutional investors also recently added to or reduced their stakes in WFG. Parallel Advisors LLC increased its position in 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 period. Wells Fargo & Company MN lifted its holdings in shares of West Fraser Timber by 2.5% in 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 period. Physician Wealth Advisors Inc. boosted its stake in shares of West Fraser Timber by 177.0% in the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock valued at $38,000 after buying an additional 370 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of West Fraser Timber by 0.8% in the first quarter. Public Employees Retirement System of Ohio now owns 47,750 shares of the company’s stock valued at $3,115,000 after buying an additional 370 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in West Fraser Timber by 6.3% during the first quarter. Sei Investments Co. now owns 7,643 shares of the company’s stock worth $499,000 after acquiring an additional 453 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $68.89 on Monday. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $76.99. The company has a quick ratio of 0.83, a current ratio of 2.06 and a debt-to-equity ratio of 0.05. The firm’s 50-day simple moving average is $68.30 and its 200 day simple moving average is $66.33. The firm has a market capitalization of $5.39 billion, a PE ratio of -4.46 and a beta of 1.00.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.08). The business had revenue of $1.43 billion for 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%. On average, equities research analysts predict that West Fraser Timber Co. Ltd. will post -3.77 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Thursday, June 25th were given a $0.32 dividend. The ex-dividend date 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 is currently -8.29%.

Analyst Ratings Changes

WFG has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of West Fraser Timber in a report on Friday, July 31st. Wall Street Zen raised shares of West Fraser Timber from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Weiss Ratings downgraded shares of West Fraser Timber from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Royal Bank Of Canada reduced their price objective on shares of West Fraser Timber from $85.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Finally, Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, West Fraser Timber has an average rating of “Hold” and an average price target of $83.20.

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.