The Manufacturers Life Insurance Company reduced its stake in West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,064 shares of the company's stock after selling 6,797 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.13% of West Fraser Timber worth $8,040,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DekaBank Deutsche Girozentrale increased its stake in West Fraser Timber by 9.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 140,395 shares of the company's stock valued at $10,451,000 after purchasing an additional 11,969 shares during the last quarter. Ontario Teachers Pension Plan Board raised its stake in West Fraser Timber by 55.6% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 20,065 shares of the company's stock worth $1,540,000 after acquiring an additional 7,172 shares in the last quarter. Franklin Resources Inc. lifted its position in West Fraser Timber by 37.1% in the second quarter. Franklin Resources Inc. now owns 57,473 shares of the company's stock valued at $4,410,000 after acquiring an additional 15,567 shares during the last quarter. Credit Suisse AG boosted its stake in West Fraser Timber by 51.7% in the second quarter. Credit Suisse AG now owns 217,106 shares of the company's stock valued at $16,659,000 after acquiring an additional 73,994 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of West Fraser Timber by 31.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 24,261 shares of the company's stock valued at $1,858,000 after purchasing an additional 5,853 shares during the last quarter. 45.74% of the stock is currently owned by hedge funds and other institutional investors.
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West Fraser Timber Price Performance
Shares of NYSE WFG opened at $86.97 on Friday. The stock has a fifty day moving average price of $75.80 and a 200 day moving average price of $80.72. West Fraser Timber Co. Ltd. has a 1-year low of $68.75 and a 1-year high of $102.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.36 and a quick ratio of 2.21. The company has a market cap of $7.07 billion, a PE ratio of 3.71 and a beta of 0.84.
West Fraser Timber (NYSE:WFG – Get Rating) last issued its earnings results on Wednesday, October 26th. The company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.05 by $0.45. The business had revenue of $2.09 billion for the quarter. West Fraser Timber had a net
margin of 23.73% and a return on equity of 30.16%. Sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 21.45 EPS for the current year.
West Fraser Timber Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Friday, December 30th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date was Thursday, December 29th. West Fraser Timber's dividend payout ratio (DPR) is 5.11%.
Analyst Upgrades and Downgrades
WFG has been the subject of a number of research reports. Raymond James cut West Fraser Timber from a "strong-buy" rating to an "outperform" rating in a research note on Monday, October 24th. CIBC cut shares of West Fraser Timber from an "outperform" rating to a "neutral" rating in a research note on Monday, October 3rd. Finally, Credit Suisse Group raised shares of West Fraser Timber from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $100.00 to $95.00 in a report on Tuesday, January 24th.
West Fraser Timber Profile
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West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.
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