CenterBook Partners LP Buys Shares of 19,979 West Fraser Timber Co. Ltd. $WFG

CenterBook Partners LP purchased a new position in West Fraser Timber Co. Ltd. (NYSE:WFG) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 19,979 shares of the company’s stock, valued at approximately $1,358,000.

Several other institutional investors have also made changes to their positions in WFG. Vanguard Personalized Indexing Management LLC lifted its position in 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 buying an additional 200 shares in the last quarter. Physician Wealth Advisors Inc. grew its holdings in shares of West Fraser Timber by 75.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 552 shares of the company’s stock valued at $38,000 after acquiring an additional 238 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in shares of West Fraser Timber by 1.3% in the second quarter. J.W. Cole Advisors Inc. now owns 19,427 shares of the company’s stock worth $1,424,000 after acquiring an additional 240 shares during the last quarter. Bank of Nova Scotia Trust Co. increased its stake in shares of West Fraser Timber by 9.1% in the second quarter. Bank of Nova Scotia Trust Co. now owns 4,009 shares of the company’s stock worth $294,000 after acquiring an additional 336 shares during the last quarter. Finally, Baird Financial Group Inc. raised its holdings in shares of West Fraser Timber by 2.1% during the second quarter. Baird Financial Group Inc. now owns 23,919 shares of the company’s stock worth $1,753,000 after acquiring an additional 500 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $67.19 on Friday. The business’s 50-day simple moving average is $67.30 and its 200-day simple moving average is $67.24. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.86 and a current ratio of 2.13. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $80.73. The firm has a market cap of $5.11 billion, a price-to-earnings ratio of -5.52 and a beta of 1.12.

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

West Fraser Timber Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Friday, March 13th will be paid a $0.32 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. West Fraser Timber’s dividend payout ratio (DPR) is presently -10.51%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WFG. Zacks Research downgraded West Fraser Timber from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce lowered West Fraser Timber from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 9th. Raymond James Financial upgraded West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 14th. TD Securities cut their price objective on shares of West Fraser Timber from $90.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday, October 24th. Finally, Royal Bank Of Canada reduced their target price on shares of West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.67.

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.