Quantbot Technologies LP Buys Shares of 18,894 West Fraser Timber Co. Ltd. $WFG

Quantbot Technologies LP purchased a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 2nd quarter, Holdings Channel reports. The firm purchased 18,894 shares of the company’s stock, valued at approximately $1,279,000.

A number of other institutional investors also recently made changes to their positions in the stock. Robotti Robert acquired a new stake in shares of West Fraser Timber during the second quarter valued at $20,021,000. Intact Investment Management Inc. raised its stake in West Fraser Timber by 820.9% in the 4th quarter. Intact Investment Management Inc. now owns 94,850 shares of the company’s stock valued at $5,803,000 after purchasing an additional 84,550 shares during the last quarter. NewGen Asset Management Ltd acquired a new position in West Fraser Timber in the 1st quarter valued at about $6,529,000. Amundi lifted its holdings in West Fraser Timber by 43.2% in the 1st quarter. Amundi now owns 192,016 shares of the company’s stock valued at $12,537,000 after purchasing an additional 57,919 shares in the last quarter. Finally, Donald Smith & CO. Inc. purchased a new position in West Fraser Timber in the 2nd quarter valued at about $110,334,000. 40.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WFG. Wall Street Zen upgraded shares of West Fraser Timber from a “strong sell” rating to a “sell” rating in a report on Saturday, August 1st. Weiss Ratings lowered shares of West Fraser Timber from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating on shares of West Fraser Timber in a research note on Friday, July 31st. TD Cowen cut their price target on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Fraser Mackenzie cut their price target on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.20.

West Fraser Timber Stock Up 0.9%

WFG opened at $69.19 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.06 and a quick ratio of 0.83. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of -4.48 and a beta of 1.00. The business has a 50-day moving average of $68.56 and a two-hundred day moving average of $66.69. West Fraser Timber Co. Ltd. has a 12 month low of $57.34 and a 12 month high of $76.99.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($0.78) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.08). West Fraser Timber had a negative return on equity of 10.84% and a negative net margin of 22.98%.The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.45 billion. On average, research analysts expect that West Fraser Timber Co. Ltd. will post -3.77 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Thursday, June 25th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. West Fraser Timber’s dividend payout ratio (DPR) is currently -8.29%.

About West Fraser Timber

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.