Chesapeake Capital Corp IL Invests $587,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

Chesapeake Capital Corp IL bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,081 shares of the company’s stock, valued at approximately $587,000.

A number of other hedge funds have also modified their holdings of the business. CIBC Asset Management Inc grew its position in shares of West Fraser Timber by 0.4% during the third quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock worth $6,966,000 after acquiring an additional 311 shares during the last quarter. Metis Global Partners LLC grew its position in shares of West Fraser Timber by 37.2% during the third quarter. Metis Global Partners LLC now owns 20,978 shares of the company’s stock worth $2,044,000 after acquiring an additional 5,686 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of West Fraser Timber by 12.4% during the third quarter. Principal Financial Group Inc. now owns 11,974 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,323 shares during the last quarter. D.B. Root & Company LLC purchased a new position in shares of West Fraser Timber during the third quarter worth approximately $223,000. Finally, Van ECK Associates Corp grew its position 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 during the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 0.9 %

NYSE:WFG opened at $91.88 on Friday. West Fraser Timber Co. Ltd. has a 1-year low of $72.35 and a 1-year high of $102.40. The firm’s fifty day moving average price is $94.64 and its 200 day moving average price is $86.00.

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

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.03%. West Fraser Timber’s dividend payout ratio (DPR) is presently -74.22%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on WFG shares. BMO Capital Markets lifted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price objective on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Scotiabank lifted their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, West Fraser Timber presently has an average rating of “Buy” and a consensus target price of $111.60.

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.