International Assets Investment Management LLC Invests $9.56 Million in West Fraser Timber Co. Ltd. (NYSE:WFG)

International Assets Investment Management LLC acquired a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 4th quarter, HoldingsChannel reports. The firm acquired 111,682 shares of the company’s stock, valued at approximately $9,558,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of West Fraser Timber by 1.5% during the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company’s stock worth $202,065,000 after buying an additional 39,929 shares during the last quarter. Royal Bank of Canada increased its holdings in West Fraser Timber by 9.0% in the 3rd quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock worth $168,256,000 after purchasing an additional 191,613 shares in the last quarter. Letko Brosseau & Associates Inc. raised its position in West Fraser Timber by 0.5% in the third quarter. Letko Brosseau & Associates Inc. now owns 1,125,166 shares of the company’s stock valued at $82,066,000 after purchasing an additional 5,632 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of West Fraser Timber by 8.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 997,159 shares of the company’s stock valued at $72,391,000 after purchasing an additional 74,655 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of West Fraser Timber by 6.7% during the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 579,373 shares of the company’s stock valued at $42,223,000 after purchasing an additional 36,132 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Stock Down 0.1 %

Shares of NYSE:WFG opened at $78.23 on Tuesday. The company has a market capitalization of $6.21 billion, a PE ratio of -64.65 and a beta of 1.19. West Fraser Timber Co. Ltd. has a 1 year low of $64.11 and a 1 year high of $90.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.33. The business has a fifty day moving average price of $81.30 and a two-hundred day moving average price of $79.26.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.48. West Fraser Timber had a negative net margin of 1.39% and a positive return on equity of 2.35%. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter in the previous year, the firm posted ($0.52) EPS. West Fraser Timber’s revenue was up .0% on a year-over-year basis. Analysts forecast that West Fraser Timber Co. Ltd. will post 4.73 earnings per share for the current year.

West Fraser Timber Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is currently -49.59%.

Analyst Ratings Changes

A number of research analysts recently issued reports on WFG shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $97.00 price objective on shares of West Fraser Timber in a report on Thursday, March 28th. Scotiabank set a $100.00 price target on shares of West Fraser Timber and gave the company an “outperform” rating in a research note on Monday, January 22nd. TD Securities increased their price objective on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Finally, Raymond James lifted their target price on West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 6th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $106.25.

West Fraser Timber Company 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.