119,105 West Fraser Timber Co. Ltd. $WFG Shares Acquired by QV Investors Inc.

QV Investors Inc. lifted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 33.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 475,092 shares of the company’s stock after acquiring an additional 119,105 shares during the quarter. West Fraser Timber accounts for 2.4% of QV Investors Inc.’s holdings, making the stock its 16th biggest position. QV Investors Inc.’s holdings in West Fraser Timber were worth $33,018,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Counterpoint Mutual Funds LLC purchased a new position in West Fraser Timber in the third quarter valued at $282,000. Farther Finance Advisors LLC boosted its stake in shares of West Fraser Timber by 4,072.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 751 shares of the company’s stock worth $52,000 after acquiring an additional 733 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of West Fraser Timber during the 3rd quarter valued at about $243,000. SailingStone Capital Partners LLC grew its position in shares of West Fraser Timber by 57.8% during the 2nd quarter. SailingStone Capital Partners LLC now owns 412,177 shares of the company’s stock valued at $27,900,000 after acquiring an additional 150,978 shares during the period. Finally, Engineers Gate Manager LP acquired a new position in shares of West Fraser Timber during the 2nd quarter worth approximately $623,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Up 1.0%

Shares of NYSE:WFG opened at $66.36 on Wednesday. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of -4.30 and a beta of 1.06. West Fraser Timber Co. Ltd. has a 12-month low of $57.34 and a 12-month high of $76.99. The business has a 50-day moving average price of $68.41 and a 200 day moving average price of $67.01. The company has a current ratio of 2.06, a quick ratio of 0.83 and a debt-to-equity ratio of 0.05.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, July 29th. The company reported ($0.78) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.08). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. Sell-side analysts expect that West Fraser Timber Co. Ltd. will post -3.80 EPS for the current year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, October 19th. Shareholders of record on Tuesday, September 29th were given a dividend of $0.32 per share. The ex-dividend date was Tuesday, September 29th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. West Fraser Timber’s dividend payout ratio (DPR) is currently -8.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on WFG. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of West Fraser Timber in a research report on Friday, July 31st. TD Securities reaffirmed a “buy” rating on shares of West Fraser Timber in a research note on Friday, July 31st. Wall Street Zen raised West Fraser Timber from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 1st. Zacks Research upgraded West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. Finally, Royal Bank Of Canada lowered their price target on shares of West Fraser Timber from $83.00 to $81.00 and set an “outperform” rating on the stock in a research report on Friday. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, West Fraser Timber currently has a consensus rating of “Moderate Buy” and an average target price of $84.80.

West Fraser Timber Profile

West Fraser Timber Co Ltd. is a diversified wood products company that manufactures and sells building materials for residential, commercial and industrial applications. Its principal products include lumber, oriented strand board, laminated veneer lumber and other engineered wood products used in construction, remodeling and manufacturing.

The company operates wood product manufacturing facilities and manages timber resources across Canada and the United States, with a significant presence in Western Canada and the U.S.