Wellington Management Group LLP Invests $21.43 Million in West Fraser Timber Co. Ltd. $WFG

Wellington Management Group LLP bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 316,578 shares of the company’s stock, valued at approximately $21,429,000. Wellington Management Group LLP owned about 0.40% of West Fraser Timber as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC lifted its position in shares of 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 buying an additional 184 shares during the last quarter. EFG International AG acquired a new stake in West Fraser Timber during the 2nd quarter worth $34,000. Physician Wealth Advisors Inc. raised its stake 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 acquiring an additional 370 shares in the last quarter. Aegis Financial Corp purchased a new stake in West Fraser Timber in the first quarter valued at $205,000. Finally, Jain Global LLC purchased a new stake in West Fraser Timber in the third quarter valued at $224,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on WFG. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of West Fraser Timber in a report on Friday, July 31st. Wall Street Zen raised West Fraser Timber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. TD Securities reissued a “buy” rating on shares of West Fraser Timber in a research report on Friday, July 31st. Weiss Ratings downgraded West Fraser Timber from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada reduced their price objective on 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. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, West Fraser Timber currently has an average rating of “Hold” and a consensus target price of $83.20.

West Fraser Timber Stock Performance

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

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

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Thursday, June 25th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 25th. West Fraser Timber’s dividend payout ratio is -8.29%.

West Fraser Timber Company 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.