TD Asset Management Inc Buys 3,507 Shares of West Fraser Timber Co. Ltd. $WFG

TD Asset Management Inc increased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 178,884 shares of the company’s stock after buying an additional 3,507 shares during the period. TD Asset Management Inc owned 0.23% of West Fraser Timber worth $13,092,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. MGO One Seven LLC raised its stake in West Fraser Timber by 2.6% in the second quarter. MGO One Seven LLC now owns 8,868 shares of the company’s stock worth $650,000 after buying an additional 227 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in West Fraser Timber by 27.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,674 shares of the company’s stock worth $269,000 after buying an additional 800 shares in the last quarter. Ameritas Advisory Services LLC bought a new position in West Fraser Timber in the second quarter worth about $27,000. Union Bancaire Privee UBP SA raised its stake in West Fraser Timber by 3.6% in the second quarter. Union Bancaire Privee UBP SA now owns 11,373 shares of the company’s stock worth $844,000 after buying an additional 398 shares in the last quarter. Finally, Parallel Advisors LLC raised its stake in West Fraser Timber by 265.1% in the second quarter. Parallel Advisors LLC now owns 398 shares of the company’s stock worth $29,000 after buying an additional 289 shares in the last quarter. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Price Performance

Shares of WFG opened at $67.06 on Friday. The company has a market capitalization of $5.29 billion, a P/E ratio of -38.32 and a beta of 1.13. The company has a quick ratio of 1.61, a current ratio of 2.89 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $71.57 and a 200 day moving average of $73.11. West Fraser Timber Co. Ltd. has a twelve month low of $66.00 and a twelve month high of $100.33.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.74). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. As a group, equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Thursday, September 25th were issued a $0.32 dividend. The ex-dividend date was Thursday, September 25th. This represents a $1.28 annualized dividend and a yield of 1.9%. West Fraser Timber’s dividend payout ratio (DPR) is currently -73.14%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of West Fraser Timber from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of West Fraser Timber in a research note on Wednesday, October 8th. TD Securities decreased their target price on shares of West Fraser Timber from $98.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, July 25th. Raymond James Financial decreased their target price on shares of West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating for the company in a research note on Wednesday. Finally, Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Four investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $96.00.

West Fraser Timber 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.