Tidal Investments LLC Increases Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Tidal Investments LLC boosted its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 311.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,962 shares of the company’s stock after purchasing an additional 8,296 shares during the period. Tidal Investments LLC’s holdings in West Fraser Timber were worth $1,067,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Smead Capital Management Inc. lifted its stake in shares of West Fraser Timber by 5.1% during the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock worth $11,507,000 after buying an additional 5,743 shares during the period. Envestnet Asset Management Inc. acquired a new stake in West Fraser Timber during the 2nd quarter worth about $1,862,000. Janus Henderson Group PLC grew its stake in West Fraser Timber by 383.7% during the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock valued at $7,296,000 after purchasing an additional 59,347 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of West Fraser Timber by 128.0% in the third quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock valued at $24,087,000 after purchasing an additional 138,871 shares during the period. Finally, Pacifica Partners Inc. raised its stake in shares of West Fraser Timber by 816.2% in the third quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock worth $1,306,000 after purchasing an additional 11,925 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Trading Down 0.2 %

Shares of WFG stock opened at $84.65 on Friday. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40. The stock has a market cap of $6.79 billion, a P/E ratio of -66.13 and a beta of 1.19. The stock has a 50 day moving average of $94.04 and a 200 day moving average of $88.21.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. During the same period last year, the firm earned $1.81 earnings per share. On average, research analysts predict that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio is -73.44%.

Wall Street Analyst Weigh In

WFG has been the topic of several research reports. Scotiabank increased their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. BMO Capital Markets upped their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $111.60.

About West Fraser Timber

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.