Smead Capital Management Inc. Has $8.67 Million Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Smead Capital Management Inc. increased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,280 shares of the company’s stock after purchasing an additional 2,701 shares during the quarter. West Fraser Timber makes up 0.2% of Smead Capital Management Inc.’s investment portfolio, making the stock its 29th largest holding. Smead Capital Management Inc.’s holdings in West Fraser Timber were worth $8,665,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFG. ICA Group Wealth Management LLC purchased a new position in shares of West Fraser Timber in the fourth quarter worth approximately $43,000. SG Americas Securities LLC acquired a new stake in West Fraser Timber during the 3rd quarter valued at $112,000. Moors & Cabot Inc. raised its position in West Fraser Timber by 8.4% during the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock valued at $208,000 after buying an additional 195 shares during the period. Two Sigma Advisers LP purchased a new stake in West Fraser Timber in the 3rd quarter worth about $210,000. Finally, Advisor Group Holdings Inc. raised its stake in shares of West Fraser Timber by 15.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock worth $217,000 after purchasing an additional 344 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on WFG shares. Royal Bank of Canada reissued an “outperform” rating and issued a $97.00 target price on shares of West Fraser Timber in a research report on Thursday, March 28th. Raymond James upped their price objective on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 6th. TD Securities boosted their price target on West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Scotiabank set a $100.00 price objective on West Fraser Timber and gave the company an “outperform” rating in a report on Monday, January 22nd. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $106.25.

West Fraser Timber Stock Performance

NYSE WFG traded up $0.07 during trading on Thursday, hitting $78.07. The company’s stock had a trading volume of 104,385 shares, compared to its average volume of 137,940. West Fraser Timber Co. Ltd. has a 52 week low of $64.11 and a 52 week high of $90.17. The firm has a market cap of $6.20 billion, a P/E ratio of -36.21 and a beta of 1.15. The firm has a 50 day moving average price of $81.43 and a 200 day moving average price of $78.39. The company has a quick ratio of 1.45, a current ratio of 2.26 and a debt-to-equity ratio of 0.03.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. The business had revenue of $1.51 billion for the quarter. Equities research analysts forecast that West Fraser Timber Co. Ltd. will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Thursday, March 14th. West Fraser Timber’s payout ratio is presently -27.91%.

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.