Heritage Wealth Management Inc. Purchases Shares of 5,175 West Fraser Timber Co. Ltd. (NYSE:WFG)

Heritage Wealth Management Inc. purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 5,175 shares of the company’s stock, valued at approximately $387,000.

Other institutional investors have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in shares of West Fraser Timber in the 2nd quarter worth about $42,886,000. Cumberland Partners Ltd purchased a new stake in shares of West Fraser Timber in the 1st quarter worth about $1,011,000. GRS Advisors LLC lifted its position in shares of West Fraser Timber by 14.7% in the 4th quarter. GRS Advisors LLC now owns 455,910 shares of the company’s stock worth $39,017,000 after purchasing an additional 58,488 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of West Fraser Timber by 36.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 83,705 shares of the company’s stock worth $7,163,000 after purchasing an additional 22,438 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of West Fraser Timber by 27.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company’s stock worth $320,000 after acquiring an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Up 0.7 %

NYSE:WFG opened at $98.69 on Thursday. The firm has a market cap of $7.78 billion, a P/E ratio of -81.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33. West Fraser Timber Co. Ltd. has a fifty-two week low of $64.11 and a fifty-two week high of $98.82. The firm has a 50-day simple moving average of $89.12 and a two-hundred day simple moving average of $82.96.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) earnings per share. Analysts predict that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.237 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 0.96%. West Fraser Timber’s dividend payout ratio is currently -77.69%.

Analyst Ratings Changes

Several research analysts recently issued reports on WFG shares. Royal Bank of Canada increased their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on shares of West Fraser Timber from $92.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $105.60.

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.