West Fraser Timber Co. Ltd. (NYSE:WFG) Declares Quarterly Dividend of $0.30

West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) announced a quarterly dividend on Thursday, June 9th, Wall Street Journal reports. Shareholders of record on Wednesday, June 22nd will be paid a dividend of 0.30 per share on Friday, July 8th. This represents a $1.20 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Tuesday, June 21st. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.25.

NYSE:WFG traded down $2.80 during trading hours on Thursday, reaching $88.61. 450,047 shares of the company’s stock were exchanged, compared to its average volume of 348,970. The business’s 50-day simple moving average is $85.78 and its two-hundred day simple moving average is $90.09. West Fraser Timber has a 12 month low of $64.72 and a 12 month high of $102.61. The company has a quick ratio of 2.35, a current ratio of 3.55 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $8.81 billion, a P/E ratio of 3.00 and a beta of -0.32.

West Fraser Timber (NYSE:WFG – Get Rating) last announced its earnings results on Thursday, April 28th. The company reported $10.25 EPS for the quarter, topping the consensus estimate of $7.84 by $2.41. West Fraser Timber had a net margin of 29.88% and a return on equity of 42.84%. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.83 billion. During the same quarter last year, the firm posted $6.96 EPS. The business’s quarterly revenue was up 32.7% on a year-over-year basis. As a group, sell-side analysts anticipate that West Fraser Timber will post 25.02 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in shares of West Fraser Timber by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 3,212,954 shares of the company’s stock valued at $264,845,000 after acquiring an additional 47,956 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in West Fraser Timber by 7.6% during the 4th quarter. Allianz Asset Management GmbH now owns 984,076 shares of the company’s stock worth $94,016,000 after acquiring an additional 69,704 shares during the last quarter. Deutsche Bank AG boosted its holdings in West Fraser Timber by 71.8% during the 4th quarter. Deutsche Bank AG now owns 298,503 shares of the company’s stock worth $28,464,000 after acquiring an additional 124,751 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of West Fraser Timber by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 262,288 shares of the company’s stock worth $25,011,000 after buying an additional 17,235 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of West Fraser Timber by 95.5% in the 1st quarter. Renaissance Technologies LLC now owns 206,100 shares of the company’s stock worth $16,986,000 after buying an additional 100,700 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.

WFG has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of West Fraser Timber from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. TD Securities dropped their price target on shares of West Fraser Timber from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Finally, Scotiabank increased their price objective on shares of West Fraser Timber from C$143.00 to C$147.00 in a research report on Wednesday, February 16th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $133.93.

West Fraser Timber Company Profile (Get Rating)

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 and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.

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