Pendal Group Ltd cut its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) by 80.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 65,959 shares of the company’s stock after selling 265,140 shares during the quarter. Pendal Group Ltd owned 0.06% of West Fraser Timber worth $5,434,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Smead Capital Management Inc. lifted its position in shares of West Fraser Timber by 2.3% in the fourth quarter. Smead Capital Management Inc. now owns 6,130 shares of the company’s stock valued at $585,000 after buying an additional 140 shares during the last quarter. Catalyst Capital Advisors LLC bought a new position in shares of West Fraser Timber in the 4th quarter valued at $33,000. Pacifica Partners Inc. increased its stake in shares of West Fraser Timber by 42.9% in the 1st quarter. Pacifica Partners Inc. now owns 1,166 shares of the company’s stock valued at $115,000 after purchasing an additional 350 shares during the last quarter. Advisor Group Holdings Inc. grew its position in West Fraser Timber by 20.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,288 shares of the company’s stock worth $219,000 after acquiring an additional 393 shares during the last quarter. Finally, Thomas White International Ltd. grew its position in West Fraser Timber by 2.7% during the 4th quarter. Thomas White International Ltd. now owns 23,568 shares of the company’s stock worth $2,247,000 after acquiring an additional 613 shares during the last quarter. Hedge funds and other institutional investors own 74.44% of the company’s stock.
A number of equities research analysts have commented on the company. TD Securities reduced their price target on 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. Scotiabank dropped their price target on West Fraser Timber from C$157.00 to C$143.00 in a research note on Friday, June 17th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $143.32.
West Fraser Timber (NYSE:WFG – Get Rating) last announced its quarterly earnings data on Thursday, April 28th. The company reported $10.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.02 by $0.23. West Fraser Timber had a return on equity of 42.84% and a net margin of 29.88%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period last year, the firm earned $6.96 earnings per share. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 28.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Wednesday, June 22nd will be issued a $0.30 dividend. The ex-dividend date is Tuesday, June 21st. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 1.59%. West Fraser Timber’s dividend payout ratio (DPR) is 4.01%.
About West Fraser Timber (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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