Impala Asset Management LLC Raises Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Impala Asset Management LLC grew its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 108.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 125,000 shares of the company’s stock after purchasing an additional 65,000 shares during the quarter. West Fraser Timber comprises approximately 8.7% of Impala Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Impala Asset Management LLC’s holdings in West Fraser Timber were worth $9,598,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Lighthouse Investment Partners LLC purchased a new position in shares of West Fraser Timber in the second quarter worth about $748,000. APG Asset Management N.V. acquired a new position in shares of West Fraser Timber in the second quarter worth about $338,000. Toronto Dominion Bank boosted its stake in shares of West Fraser Timber by 0.4% during the 2nd quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock worth $2,309,000 after acquiring an additional 125 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of West Fraser Timber by 446.9% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,965 shares of the company’s stock valued at $1,458,000 after acquiring an additional 15,497 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in West Fraser Timber by 194.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,589 shares of the company’s stock valued at $8,418,000 after purchasing an additional 72,311 shares during the period. 40.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. BMO Capital Markets increased their price objective on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Royal Bank of Canada boosted their target price on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a report 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, the stock has a consensus rating of “Buy” and an average target price of $105.60.

West Fraser Timber Trading Up 0.4 %

Shares of WFG opened at $96.47 on Friday. West Fraser Timber Co. Ltd. has a 12-month low of $64.11 and a 12-month high of $97.41. The firm has a market capitalization of $7.61 billion, a P/E ratio of -79.73 and a beta of 1.16. The firm has a 50-day moving average price of $87.99 and a 200 day moving average price of $82.61. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.29 by ($0.09). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned ($0.03) EPS. Sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current year.

West Fraser Timber Cuts Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.98%. West Fraser Timber’s dividend payout ratio (DPR) is -77.69%.

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.