West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 18.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,900 shares of the company’s stock after acquiring an additional 3,700 shares during the period. Intact Investment Management Inc.’s holdings in West Fraser Timber were worth $1,836,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. FIL Ltd grew its holdings in West Fraser Timber by 35.5% during the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after acquiring an additional 1,319,843 shares during the period. Royal Bank of Canada raised its holdings in West Fraser Timber by 0.3% during the 4th quarter. Royal Bank of Canada now owns 2,980,619 shares of the company’s stock worth $257,974,000 after buying an additional 8,760 shares during the period. Vanguard Group Inc. raised its holdings in West Fraser Timber by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock worth $246,652,000 after buying an additional 12,874 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in West Fraser Timber by 56.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock worth $187,126,000 after buying an additional 780,313 shares during the period. Finally, Norges Bank acquired a new stake in West Fraser Timber during the 4th quarter worth about $81,605,000. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Trading Down 1.3%

Shares of NYSE WFG opened at $73.12 on Friday. West Fraser Timber Co. Ltd. has a one year low of $69.48 and a one year high of $102.40. The firm has a market capitalization of $5.62 billion, a PE ratio of -430.14 and a beta of 1.17. The business has a 50-day moving average price of $74.27 and a two-hundred day moving average price of $79.86.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). West Fraser Timber had a return on equity of 0.99% and a net margin of 0.03%. The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.53 billion. Research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Thursday, June 26th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.75%. The ex-dividend date is Thursday, June 26th. West Fraser Timber’s payout ratio is currently -752.94%.

Analyst Ratings Changes

Several analysts have issued reports on WFG shares. Royal Bank Of Canada cut their price objective on West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Wall Street Zen upgraded West Fraser Timber from a “sell” rating to a “hold” rating in a report on Saturday, June 7th. Raymond James Financial cut their price objective on West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Finally, TD Securities cut their price objective on West Fraser Timber from $99.00 to $98.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, West Fraser Timber currently has an average rating of “Moderate Buy” and a consensus target price of $100.40.

West Fraser Timber Profile

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, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.