West Fraser Timber (NYSE:WFG) Sets New 1-Year Low – Here’s What Happened

West Fraser Timber Co. Ltd. (NYSE:WFG)’s share price reached a new 52-week low during trading on Thursday . The stock traded as low as $69.48 and last traded at $75.61, with a volume of 416232 shares changing hands. The stock had previously closed at $70.90.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Raymond James dropped their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. TD Securities cut their target price on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Scotiabank decreased their price target on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, West Fraser Timber has a consensus rating of “Buy” and an average target price of $106.00.

West Fraser Timber Stock Performance

The company’s fifty day moving average price is $77.94 and its 200 day moving average price is $87.29. The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of -358.85 and a beta of 1.21.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Friday, March 14th. West Fraser Timber’s payout ratio is -609.52%.

Institutional Trading of West Fraser Timber

A number of large investors have recently modified their holdings of the company. Pacifica Partners Inc. increased its stake in shares of West Fraser Timber by 10.6% in the first quarter. Pacifica Partners Inc. now owns 14,781 shares of the company’s stock valued at $1,092,000 after purchasing an additional 1,415 shares during the period. GAMMA Investing LLC increased its position in West Fraser Timber by 7,588.9% in the 1st quarter. GAMMA Investing LLC now owns 692 shares of the company’s stock valued at $53,000 after acquiring an additional 683 shares during the period. Comprehensive Money Management Services LLC bought a new stake in West Fraser Timber during the 4th quarter valued at $339,000. Mackenzie Financial Corp boosted its position in West Fraser Timber by 73.7% during the 4th quarter. Mackenzie Financial Corp now owns 304,826 shares of the company’s stock worth $26,384,000 after acquiring an additional 129,378 shares during the period. Finally, Toronto Dominion Bank grew its stake in shares of West Fraser Timber by 76.8% in the fourth quarter. Toronto Dominion Bank now owns 35,110 shares of the company’s stock worth $3,039,000 after purchasing an additional 15,252 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

About West Fraser Timber

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.