West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $83.24, but opened at $90.25. West Fraser Timber shares last traded at $100.87, with a volume of 88,183 shares changing hands.
Wall Street Analyst Weigh In
A number of equities analysts have commented on WFG shares. Scotiabank dropped their target price on shares of West Fraser Timber from C$157.00 to C$143.00 in a research note on Friday, June 17th. TD Securities increased their target price on shares of West Fraser Timber from $105.00 to $120.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $143.32.
West Fraser Timber Trading Up 6.0 %
The company’s 50 day moving average price is $84.46 and its two-hundred day moving average price is $88.61. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.55 and a quick ratio of 2.35. The stock has a market capitalization of $10.13 billion, a PE ratio of 3.41 and a beta of 0.20.
West Fraser Timber (NYSE:WFG – Get Rating) last released its quarterly earnings results on Thursday, April 28th. The company reported $10.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.02 by $0.23. The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.83 billion. West Fraser Timber had a net margin of 29.88% and a return on equity of 42.84%. The business’s revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $6.96 EPS. As a group, analysts expect that West Fraser Timber Co. Ltd. will post 28.11 earnings per share for the current year.
West Fraser Timber Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 8th. Investors of record on Wednesday, June 22nd were given a $0.30 dividend. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Tuesday, June 21st. This represents a $1.20 annualized dividend and a yield of 1.18%. West Fraser Timber’s dividend payout ratio is 4.01%.
Hedge Funds Weigh In On West Fraser Timber
Institutional investors and hedge funds have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL grew its stake in West Fraser Timber by 218.8% in the 1st quarter. Virginia Retirement Systems ET AL now owns 52,600 shares of the company’s stock valued at $4,332,000 after acquiring an additional 36,100 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its stake in shares of West Fraser Timber by 26,312.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 60,485 shares of the company’s stock worth $5,775,000 after purchasing an additional 60,256 shares during the last quarter. Qube Research & Technologies Ltd boosted its stake in shares of West Fraser Timber by 221.6% during the 4th quarter. Qube Research & Technologies Ltd now owns 17,187 shares of the company’s stock worth $1,639,000 after purchasing an additional 11,843 shares during the last quarter. Smead Capital Management Inc. boosted its stake in shares of West Fraser Timber by 2.3% during the 4th quarter. Smead Capital Management Inc. now owns 6,130 shares of the company’s stock worth $585,000 after purchasing an additional 140 shares during the last quarter. Finally, Impala Asset Management LLC lifted its holdings in shares of West Fraser Timber by 14.3% during the 4th quarter. Impala Asset Management LLC now owns 1,238,439 shares of the company’s stock worth $118,155,000 after acquiring an additional 155,275 shares during the period. 74.44% of the stock is owned by institutional investors and hedge funds.
West Fraser Timber Company Profile
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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 and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.
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