Smead Capital Management Inc. Boosts Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Smead Capital Management Inc. lifted its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,280 shares of the company’s stock after acquiring an additional 2,701 shares during the period. West Fraser Timber accounts for approximately 0.2% of Smead Capital Management Inc.’s investment portfolio, making the stock its 29th biggest holding. Smead Capital Management Inc. owned about 0.13% of West Fraser Timber worth $8,665,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFG. ICA Group Wealth Management LLC purchased a new position in shares of West Fraser Timber during the fourth quarter worth $43,000. SG Americas Securities LLC acquired a new stake in West Fraser Timber during the third quarter worth about $112,000. Moors & Cabot Inc. boosted its holdings in West Fraser Timber by 8.4% during the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock worth $208,000 after buying an additional 195 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in West Fraser Timber during the third quarter valued at $210,000. Finally, Advisor Group Holdings Inc. boosted its stake in shares of West Fraser Timber by 15.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock worth $217,000 after acquiring an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

Shares of NYSE WFG traded up $0.07 during trading on Thursday, reaching $78.07. The company had a trading volume of 104,385 shares, compared to its average volume of 137,940. The stock has a 50-day moving average price of $81.43 and a two-hundred day moving average price of $78.39. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $6.20 billion, a PE ratio of -36.21 and a beta of 1.15. West Fraser Timber Co. Ltd. has a twelve month low of $64.11 and a twelve month high of $90.17.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.05. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. The company had revenue of $1.51 billion during the quarter. As a group, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.1 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 4th. Investors of record on Friday, March 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.54%. West Fraser Timber’s payout ratio is -27.91%.

Wall Street Analyst Weigh In

WFG has been the topic of several research analyst reports. TD Securities raised their price objective on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday. Raymond James lifted their price objective on West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 6th. Royal Bank of Canada reissued an “outperform” rating and issued a $97.00 price objective on shares of West Fraser Timber in a research note on Thursday, March 28th. Finally, Scotiabank set a $100.00 target price on West Fraser Timber and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $106.25.

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.