Toronto Dominion Bank Purchases 125 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Toronto Dominion Bank increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,040 shares of the company’s stock after buying an additional 125 shares during the quarter. Toronto Dominion Bank’s holdings in West Fraser Timber were worth $2,309,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Oppenheimer & Co. Inc. raised its holdings in shares of West Fraser Timber by 36.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 83,705 shares of the company’s stock valued at $7,163,000 after purchasing an additional 22,438 shares during the last quarter. 1832 Asset Management L.P. lifted its position in West Fraser Timber by 30.2% during the 4th quarter. 1832 Asset Management L.P. now owns 300,066 shares of the company’s stock worth $25,680,000 after buying an additional 69,688 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of West Fraser Timber during the 4th quarter worth about $1,165,000. True Wealth Design LLC grew its holdings in shares of West Fraser Timber by 8.4% in the 4th quarter. True Wealth Design LLC now owns 10,123 shares of the company’s stock valued at $866,000 after acquiring an additional 786 shares in the last quarter. Finally, GRS Advisors LLC grew its holdings 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 valued at $39,017,000 after acquiring an additional 58,488 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Performance

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

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 analysts’ consensus estimates of $1.29 by ($0.09). West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the company posted ($0.03) EPS. The firm’s revenue was up 6.0% on a year-over-year basis. On average, equities research analysts expect that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, September 26th will be paid a $0.237 dividend. The ex-dividend date of this dividend is Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 0.98%. West Fraser Timber’s dividend payout ratio (DPR) is currently -77.69%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WFG. BMO Capital Markets increased their price target on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada raised 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.60.

West Fraser Timber Company 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.