127,055 Shares in West Fraser Timber Co. Ltd. (NYSE:WFG) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the third quarter, HoldingsChannel reports. The firm bought 127,055 shares of the company’s stock, valued at approximately $12,370,000.

Other institutional investors have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in West Fraser Timber during the second quarter worth about $42,886,000. Cumberland Partners Ltd bought a new position in West Fraser Timber during the first quarter worth about $1,011,000. Envestnet Asset Management Inc. bought a new position in West Fraser Timber during the second quarter worth about $1,862,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of West Fraser Timber by 27.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company’s stock valued at $320,000 after acquiring an additional 802 shares during the last quarter. Finally, Pacifica Partners Inc. raised its stake in shares of West Fraser Timber by 816.2% in the third quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock valued at $1,306,000 after acquiring an additional 11,925 shares during the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Price Performance

WFG stock opened at $93.84 on Thursday. The company has a 50 day moving average price of $93.69 and a 200 day moving average price of $84.82. West Fraser Timber Co. Ltd. has a fifty-two week low of $65.68 and a fifty-two week high of $102.40. The stock has a market capitalization of $7.53 billion, a PE ratio of -73.31 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the firm earned $1.81 EPS. As a group, equities analysts expect that West Fraser Timber Co. Ltd. will post 1.61 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a $0.237 dividend. This represents a $0.95 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend was Thursday, September 26th. West Fraser Timber’s dividend payout ratio (DPR) is presently -73.44%.

Wall Street Analysts Forecast Growth

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