International Assets Investment Management LLC Takes Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

International Assets Investment Management LLC bought a new position in West Fraser Timber Co. Ltd. (NYSE:WFG) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 111,682 shares of the company’s stock, valued at approximately $9,558,000. International Assets Investment Management LLC owned about 0.14% of West Fraser Timber at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WFG. Vanguard Group Inc. raised its stake in shares of West Fraser Timber by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,212,954 shares of the company’s stock worth $264,845,000 after purchasing an additional 47,956 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 buying an additional 191,613 shares during the period. Norges Bank purchased a new position in West Fraser Timber during the 4th quarter worth approximately $116,809,000. Letko Brosseau & Associates Inc. lifted its stake in West Fraser Timber by 0.5% during the 3rd quarter. Letko Brosseau & Associates Inc. now owns 1,125,166 shares of the company’s stock valued at $82,066,000 after acquiring an additional 5,632 shares during the period. Finally, Bridgewater Advisors Inc. purchased a new stake in shares of West Fraser Timber in the 3rd quarter valued at $79,179,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Down 3.1 %

West Fraser Timber stock opened at $79.13 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.26 and a quick ratio of 1.45. The stock has a market capitalization of $6.29 billion, a PE ratio of -36.80 and a beta of 1.15. The business has a 50 day simple moving average of $81.37 and a 200-day simple moving average of $78.28. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $90.17.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. The company had revenue of $1.51 billion during the quarter. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. On average, analysts anticipate that West Fraser Timber Co. Ltd. will post 4.1 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date was Thursday, March 14th. West Fraser Timber’s dividend payout ratio is presently -27.91%.

Analysts Set New Price Targets

Several brokerages recently issued reports on WFG. Scotiabank set a $100.00 target price on shares of West Fraser Timber and gave the stock an “outperform” rating in a report on Monday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and issued a $97.00 price objective on shares of West Fraser Timber in a report on Thursday, March 28th. Finally, Raymond James raised 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. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $104.92.

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.