West Fraser Timber (NYSE:WFG) Issues Earnings Results

West Fraser Timber (NYSE:WFG) posted its quarterly earnings data on Wednesday. The company reported ($2.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.71) by $0.29, Zacks reports. West Fraser Timber had a negative net margin of 4.35% and a negative return on equity of 2.63%.

West Fraser Timber Trading Down 1.0%

WFG traded down $0.78 on Wednesday, hitting $74.88. The company had a trading volume of 340,922 shares, compared to its average volume of 273,340. The company’s fifty day moving average price is $65.56 and its 200 day moving average price is $67.08. The firm has a market cap of $5.69 billion, a P/E ratio of -22.35 and a beta of 1.12. West Fraser Timber has a 1 year low of $57.34 and a 1 year high of $84.38. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.05.

West Fraser Timber Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 29th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, December 29th. West Fraser Timber’s dividend payout ratio (DPR) is presently -38.21%.

Hedge Funds Weigh In On West Fraser Timber

Several hedge funds have recently bought and sold shares of WFG. Jain Global LLC acquired a new stake in shares of West Fraser Timber during the third quarter worth about $224,000. Sei Investments Co. boosted its position in shares of West Fraser Timber by 29.8% during the 2nd quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock worth $291,000 after acquiring an additional 912 shares in the last quarter. Brooklyn Investment Group purchased a new position in West Fraser Timber in the third quarter valued at approximately $321,000. Jane Street Group LLC acquired a new stake in West Fraser Timber during the 2nd quarter worth $471,000. Finally, Tower Research Capital LLC TRC increased its position in shares of West Fraser Timber by 422.8% during the second quarter. Tower Research Capital LLC TRC now owns 6,613 shares of the company’s stock worth $485,000 after purchasing an additional 5,348 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WFG. Royal Bank Of Canada decreased their price target on shares of West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, December 18th. Zacks Research cut West Fraser Timber from a “hold” rating to a “strong sell” rating in a report on Monday, January 26th. Raymond James Financial raised West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 price target on the stock in a research note on Wednesday, January 14th. Canadian Imperial Bank of Commerce cut West Fraser Timber from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 9th. Finally, TD Securities decreased their price objective on West Fraser Timber from $90.00 to $88.00 and set a “buy” rating on the stock in a report on Friday, October 24th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $87.00.

About West Fraser Timber

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.