D.B. Root & Company LLC Invests $223,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

D.B. Root & Company LLC acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,291 shares of the company’s stock, valued at approximately $223,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans bought a new stake in West Fraser Timber during the second quarter worth about $52,645,000. Manning & Napier Advisors LLC purchased a new stake in West Fraser Timber in the second quarter worth approximately $42,886,000. 1832 Asset Management L.P. grew its position in West Fraser Timber by 178.5% during the first quarter. 1832 Asset Management L.P. now owns 835,774 shares of the company’s stock valued at $72,236,000 after acquiring an additional 535,708 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of West Fraser Timber by 4,057.8% during the third quarter. Van ECK Associates Corp now owns 193,752 shares of the company’s stock worth $18,321,000 after acquiring an additional 189,092 shares in the last quarter. Finally, Galibier Capital Management Ltd. lifted its holdings in shares of West Fraser Timber by 152.3% in the 2nd quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company’s stock worth $21,474,000 after acquiring an additional 168,802 shares during the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 0.8 %

Shares of NYSE:WFG opened at $92.42 on Friday. The company has a market cap of $7.42 billion, a price-to-earnings ratio of -72.20 and a beta of 1.18. West Fraser Timber Co. Ltd. has a 12 month low of $71.80 and a 12 month high of $102.40. The company has a 50-day moving average price of $94.11 and a 200-day moving average price of $85.37.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm posted $1.81 earnings per share. As a group, research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were given a $0.237 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.03%. West Fraser Timber’s dividend payout ratio is -73.44%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Royal Bank of Canada lifted their target price 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. Scotiabank boosted their target price on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets lifted their price target on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average target price of $111.60.

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.