Toronto Dominion Bank Purchases 125 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Toronto Dominion Bank grew its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,040 shares of the company’s stock after buying an additional 125 shares during the quarter. Toronto Dominion Bank’s holdings in West Fraser Timber were worth $2,309,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Cubist Systematic Strategies LLC grew its position in West Fraser Timber by 446.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,965 shares of the company’s stock worth $1,458,000 after acquiring an additional 15,497 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of West Fraser Timber by 194.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,589 shares of the company’s stock worth $8,418,000 after purchasing an additional 72,311 shares during the last quarter. Evergreen Capital Management LLC increased its stake in shares of West Fraser Timber by 9.0% in the second quarter. Evergreen Capital Management LLC now owns 6,826 shares of the company’s stock valued at $527,000 after buying an additional 564 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of West Fraser Timber by 18.4% in the second quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company’s stock valued at $76,053,000 after buying an additional 153,600 shares during the last quarter. Finally, Ensign Peak Advisors Inc bought a new position in shares of West Fraser Timber in the second quarter valued at about $44,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Up 0.4 %

Shares of NYSE:WFG opened at $96.47 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of -79.73 and a beta of 1.16. The company has a 50 day moving average of $87.99 and a 200-day moving average of $82.61. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $97.41.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.09). West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be issued a dividend of $0.237 per share. This represents a $0.95 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s dividend payout ratio (DPR) is currently -77.69%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on WFG shares. BMO Capital Markets raised their price objective on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their price objective on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, West Fraser Timber currently has an average rating of “Buy” and an average price target of $105.60.

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.