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

West Fraser Timber Co. Ltd. (NYSE:WFG) announced a quarterly dividend on Tuesday, September 12th, Zacks reports. Shareholders of record on Wednesday, September 27th will be paid a dividend of 0.30 per share on Friday, October 13th. This represents a $1.20 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Tuesday, September 26th.

West Fraser Timber Stock Down 0.8 %

West Fraser Timber stock opened at $71.33 on Thursday. West Fraser Timber has a twelve month low of $67.41 and a twelve month high of $91.44. The company has a quick ratio of 2.31, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $79.76 and a 200-day moving average of $76.70. The stock has a market capitalization of $5.96 billion, a PE ratio of -99.07 and a beta of 1.14.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, July 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.09. The firm had revenue of $1.61 billion during the quarter. West Fraser Timber had a positive return on equity of 1.03% and a negative net margin of 0.74%. On average, equities research analysts anticipate that West Fraser Timber will post 1.56 EPS for the current fiscal year.

Institutional Trading of West Fraser Timber

Large investors have recently added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new stake in shares of West Fraser Timber in the 4th quarter valued at about $43,000. Moors & Cabot Inc. increased its position in West Fraser Timber by 8.4% during the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock worth $208,000 after buying an additional 195 shares during the last quarter. Two Sigma Advisers LP bought a new stake in West Fraser Timber in the third quarter valued at approximately $210,000. Advisor Group Holdings Inc. lifted its position in shares of West Fraser Timber by 15.0% in the first quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock valued at $217,000 after buying an additional 344 shares during the last quarter. Finally, Veritable L.P. bought a new position in shares of West Fraser Timber during the 1st quarter worth approximately $219,000. Institutional investors and hedge funds own 46.23% of the company’s stock.

Analyst Upgrades and Downgrades

WFG has been the topic of a number of research reports. Raymond James boosted their price objective on shares of West Fraser Timber from $120.00 to $125.00 and gave the stock a “strong-buy” rating in a research report on Thursday, July 27th. CSFB boosted their price target on shares of West Fraser Timber from $106.50 to $108.50 and gave the stock an “outperform” rating in a research report on Wednesday, August 23rd. TD Securities raised their price objective on West Fraser Timber from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Credit Suisse Group upped their target price on West Fraser Timber from $106.50 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday, August 23rd. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $113.13.

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 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.