296,043 Shares in West Fraser Timber Co. Ltd. $WFG Purchased by Robotti Robert

Robotti Robert acquired a new position in West Fraser Timber Co. Ltd. (NYSE:WFG) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 296,043 shares of the company’s stock, valued at approximately $20,021,000. West Fraser Timber accounts for 3.2% of Robotti Robert’s holdings, making the stock its 5th largest holding. Robotti Robert owned 0.38% of West Fraser Timber at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Intact Investment Management Inc. lifted its stake in shares of West Fraser Timber by 820.9% in the 4th quarter. Intact Investment Management Inc. now owns 94,850 shares of the company’s stock valued at $5,803,000 after purchasing an additional 84,550 shares during the period. NewGen Asset Management Ltd bought a new stake in shares of West Fraser Timber during the first quarter valued at approximately $6,529,000. Amundi grew its stake in West Fraser Timber by 43.2% in the first quarter. Amundi now owns 192,016 shares of the company’s stock worth $12,537,000 after purchasing an additional 57,919 shares during the period. Alberta Investment Management Corp purchased a new stake in West Fraser Timber in the second quarter worth $1,020,000. Finally, Royal Bank of Canada raised its holdings in West Fraser Timber by 10.3% in the first quarter. Royal Bank of Canada now owns 3,450,867 shares of the company’s stock worth $225,306,000 after purchasing an additional 321,102 shares in the last quarter. 40.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of West Fraser Timber in a report on Friday, July 31st. Fraser Mackenzie decreased their price target on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, May 1st. TD Cowen lowered their price target on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 1st. 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. Finally, Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $83.20.

West Fraser Timber Stock Down 1.7%

Shares of NYSE:WFG opened at $67.24 on Wednesday. The company has a current ratio of 2.06, a quick ratio of 0.83 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $68.46 and a two-hundred day simple moving average of $66.74. West Fraser Timber Co. Ltd. has a 12-month low of $57.34 and a 12-month high of $76.99. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -4.36 and a beta of 1.00.

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

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 13th. Investors of record on Thursday, June 25th were paid a $0.32 dividend. The ex-dividend date was Thursday, June 25th. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. West Fraser Timber’s 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.