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

Park Place Capital Corp acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 400 shares of the company’s stock, valued at approximately $31,000.

Other large investors have also made changes to their positions in the company. Hsbc Holdings PLC lifted its position in shares of West Fraser Timber by 29.3% during the 4th quarter. Hsbc Holdings PLC now owns 268,764 shares of the company’s stock worth $23,005,000 after purchasing an additional 60,823 shares during the last quarter. Cumberland Partners Ltd bought a new stake in shares of West Fraser Timber in the 1st quarter valued at approximately $1,011,000. GRS Advisors LLC grew its stake 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 purchasing an additional 58,488 shares during the period. Oppenheimer & Co. Inc. grew its stake in shares of West Fraser Timber by 36.6% in the 4th 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 period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of West Fraser Timber by 27.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company’s stock valued at $320,000 after purchasing an additional 802 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WFG shares. TD Securities upped their price objective on West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. BMO Capital Markets upped their price objective on West Fraser Timber from $92.00 to $105.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their price objective on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, West Fraser Timber presently has an average rating of “Buy” and an average target price of $106.50.

West Fraser Timber Stock Performance

NYSE:WFG traded down $3.41 during mid-day trading on Monday, hitting $83.11. The stock had a trading volume of 101,400 shares, compared to its average volume of 168,623. West Fraser Timber Co. Ltd. has a twelve month low of $64.11 and a twelve month high of $89.97. The stock has a market cap of $6.53 billion, a price-to-earnings ratio of -69.08 and a beta of 1.16. The company’s 50 day simple moving average is $79.24 and its 200 day simple moving average is $80.13. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33.

West Fraser Timber (NYSE:WFG) last announced its 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 business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. On average, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current year.

West Fraser Timber Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Wednesday, June 26th were paid a dividend of $0.32 per share. The ex-dividend date was Wednesday, June 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.54%. West Fraser Timber’s payout ratio is presently -105.78%.

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.