West Fraser Timber Co. Ltd. $WFG Stock Bought by QV Investors Inc.

QV Investors Inc. raised its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 33.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 475,092 shares of the company’s stock after acquiring an additional 119,105 shares during the period. West Fraser Timber makes up approximately 2.4% of QV Investors Inc.’s holdings, making the stock its 16th biggest holding. QV Investors Inc. owned 0.61% of West Fraser Timber worth $33,018,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its position in shares of West Fraser Timber by 72.2% during the first quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock worth $29,000 after purchasing an additional 184 shares in the last quarter. EFG International AG purchased a new stake in shares of West Fraser Timber during the 2nd quarter valued at $34,000. Physician Wealth Advisors Inc. lifted its holdings in shares of West Fraser Timber by 177.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock valued at $38,000 after purchasing an additional 370 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of West Fraser Timber in the 2nd quarter worth $40,000. Finally, Farther Finance Advisors LLC boosted its position in shares of West Fraser Timber by 4,072.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $52,000 after purchasing an additional 733 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Stock Performance

Shares of WFG opened at $66.36 on Wednesday. The stock has a 50-day moving average of $68.41 and a two-hundred day moving average of $67.01. West Fraser Timber Co. Ltd. has a one year low of $57.34 and a one year high of $76.99. 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 $5.20 billion, a P/E ratio of -4.30 and a beta of 1.06.

West Fraser Timber (NYSE:WFG) last posted its quarterly 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 firm 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%. As a group, research analysts predict that West Fraser Timber Co. Ltd. will post -3.80 EPS for the current year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 19th. Investors of record on Tuesday, September 29th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Tuesday, September 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. West Fraser Timber’s payout ratio is -8.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WFG. TD Securities restated a “buy” rating on shares of West Fraser Timber in a research note on Friday, July 31st. Royal Bank Of Canada decreased their price target on West Fraser Timber from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Friday. Raymond James Financial raised West Fraser Timber from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $75.00 to $85.00 in a report on Tuesday, September 15th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of West Fraser Timber in a research note on Friday, July 31st. Finally, Weiss Ratings lowered West Fraser Timber from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, West Fraser Timber currently has an average rating of “Moderate Buy” and a consensus price target of $84.80.

West Fraser Timber Profile

West Fraser Timber Co Ltd. is a diversified wood products company that manufactures and sells building materials for residential, commercial and industrial applications. Its principal products include lumber, oriented strand board, laminated veneer lumber and other engineered wood products used in construction, remodeling and manufacturing.

The company operates wood product manufacturing facilities and manages timber resources across Canada and the United States, with a significant presence in Western Canada and the U.S.