TD Asset Management Inc Increases Stake in West Fraser Timber Co. Ltd. $WFG

TD Asset Management Inc boosted its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 41.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 252,611 shares of the company’s stock after buying an additional 73,727 shares during the period. TD Asset Management Inc owned 0.33% of West Fraser Timber worth $17,177,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Vanguard Personalized Indexing Management LLC raised its position in shares of West Fraser Timber by 5.4% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,874 shares of the company’s stock worth $263,000 after acquiring an additional 200 shares in the last quarter. Physician Wealth Advisors Inc. raised its holdings in West Fraser Timber by 75.8% in the third quarter. Physician Wealth Advisors Inc. now owns 552 shares of the company’s stock worth $38,000 after purchasing an additional 238 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in West Fraser Timber by 1.3% during the second quarter. J.W. Cole Advisors Inc. now owns 19,427 shares of the company’s stock valued at $1,424,000 after buying an additional 240 shares during the period. Bank of Nova Scotia Trust Co. boosted its holdings in shares of West Fraser Timber by 9.1% during the 2nd quarter. Bank of Nova Scotia Trust Co. now owns 4,009 shares of the company’s stock valued at $294,000 after buying an additional 336 shares in the last quarter. Finally, Baird Financial Group Inc. grew its position in shares of West Fraser Timber by 2.1% in the 2nd quarter. Baird Financial Group Inc. now owns 23,919 shares of the company’s stock worth $1,753,000 after buying an additional 500 shares during the period. 40.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce lowered shares of West Fraser Timber from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 9th. Raymond James Financial raised West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 price target on the stock in a research report on Wednesday, January 14th. Royal Bank Of Canada reduced their price objective on West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Finally, Zacks Research upgraded West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.67.

West Fraser Timber Price Performance

Shares of NYSE:WFG opened at $66.43 on Monday. The business has a 50-day simple moving average of $67.80 and a two-hundred day simple moving average of $66.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 2.13. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -5.45 and a beta of 1.12. West Fraser Timber Co. Ltd. has a fifty-two week low of $57.34 and a fifty-two week high of $80.73.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported ($2.42) EPS for the quarter, topping analysts’ consensus estimates of ($2.71) by $0.29. The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.18 billion. West Fraser Timber had a negative net margin of 17.15% and a negative return on equity of 5.69%. On average, analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 2nd. Stockholders of record on Friday, March 13th will be issued 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 of this dividend is Friday, March 13th. West Fraser Timber’s dividend payout ratio is presently -10.51%.

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.