Chesapeake Capital Corp IL Makes New Investment in West Fraser Timber Co. Ltd. (NYSE:WFG)

Chesapeake Capital Corp IL acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,141 shares of the company’s stock, valued at approximately $358,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFG. Bfsg LLC acquired a new stake in West Fraser Timber in the 4th quarter worth about $42,000. Accordant Advisory Group Inc acquired a new stake in shares of West Fraser Timber in the first quarter worth approximately $43,000. ICA Group Wealth Management LLC purchased a new stake in West Fraser Timber in the fourth quarter valued at approximately $43,000. Tower Research Capital LLC TRC acquired a new position in West Fraser Timber during the fourth quarter worth approximately $78,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in West Fraser Timber during the first quarter worth approximately $103,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $97.00 price objective on shares of West Fraser Timber in a research note on Thursday, March 28th. TD Securities boosted their price target on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, April 16th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, West Fraser Timber currently has an average rating of “Buy” and a consensus price target of $106.25.

West Fraser Timber Stock Up 0.4 %

NYSE WFG traded up $0.34 during trading hours on Friday, hitting $79.19. The company had a trading volume of 135,816 shares, compared to its average volume of 289,328. The firm’s 50 day moving average is $78.52 and its 200 day moving average is $80.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.33. West Fraser Timber Co. Ltd. has a fifty-two week low of $64.11 and a fifty-two week high of $89.57. The company has a market capitalization of $6.25 billion, a price-to-earnings ratio of -65.45 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Tuesday, April 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.48. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.47 billion. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. The company’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.52) earnings per share. Sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 4.73 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 26th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.62%. West Fraser Timber’s payout ratio is currently -105.78%.

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.