APG Asset Management N.V. Invests $338,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

APG Asset Management N.V. bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the second quarter, Holdings Channel reports. The fund bought 4,723 shares of the company’s stock, valued at approximately $338,000.

Several other hedge funds have also modified their holdings of WFG. Toronto Dominion Bank raised its holdings in 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 buying an additional 125 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of West Fraser Timber by 446.9% during the second 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. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of West Fraser Timber by 194.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,589 shares of the company’s stock valued at $8,418,000 after acquiring an additional 72,311 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in West Fraser Timber by 9.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 6,826 shares of the company’s stock worth $527,000 after purchasing an additional 564 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in West Fraser Timber by 18.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company’s stock worth $76,053,000 after purchasing an additional 153,600 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Trading Up 0.7 %

NYSE WFG opened at $98.06 on Wednesday. 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 Co. Ltd. has a 1-year low of $64.11 and a 1-year high of $98.41. The firm’s fifty day simple moving average is $88.73 and its 200-day simple moving average is $82.85. The company has a market capitalization of $7.70 billion, a PE ratio of -81.04 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 EPS 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 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 company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Thursday, September 26th will be issued a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, September 26th. West Fraser Timber’s dividend payout ratio is presently -78.51%.

Analyst Upgrades and Downgrades

WFG has been the subject of a number of research analyst reports. Royal Bank of Canada increased their target price on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, July 26th. BMO Capital Markets increased their price objective on 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 investment 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 company currently has an average rating of “Buy” and an average 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.