Chesapeake Capital Corp IL Invests $587,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

Chesapeake Capital Corp IL bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,081 shares of the company's stock, valued at approximately $587,000.

A number of other hedge funds have also recently made changes to their positions in WFG. Thrivent Financial for Lutherans purchased a new position in shares of West Fraser Timber during the second quarter valued at $52,645,000. Manning & Napier Advisors LLC purchased a new stake in shares of West Fraser Timber in the 2nd quarter worth approximately $42,886,000. 1832 Asset Management L.P. lifted its position in shares of West Fraser Timber by 178.5% in the 1st quarter. 1832 Asset Management L.P. now owns 835,774 shares of the company's stock worth $72,236,000 after purchasing an additional 535,708 shares during the period. Van ECK Associates Corp increased its holdings in West Fraser Timber by 4,057.8% during the third quarter. Van ECK Associates Corp now owns 193,752 shares of the company's stock valued at $18,321,000 after buying an additional 189,092 shares during the period. Finally, Galibier Capital Management Ltd. raised its stake in West Fraser Timber by 152.3% in the second quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company's stock worth $21,474,000 after buying an additional 168,802 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Price Performance

Shares of NYSE:WFG traded down $0.80 during midday trading on Friday, reaching $91.88. 114,642 shares of the company's stock were exchanged, compared to its average volume of 167,900. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of -71.78 and a beta of 1.18. West Fraser Timber Co. Ltd. has a fifty-two week low of $72.35 and a fifty-two week high of $102.40. The firm's 50 day simple moving average is $94.64 and its two-hundred day simple moving average is $86.06.

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

West Fraser Timber Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Thursday, September 26th. West Fraser Timber's dividend payout ratio (DPR) is -74.22%.

Analyst Ratings Changes

Several research analysts recently commented on WFG shares. BMO Capital Markets boosted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price target on West Fraser Timber from $97.00 to $100.00 and gave the stock an "outperform" rating in a research report on Friday, July 26th. Finally, Scotiabank raised their price objective on West Fraser Timber from $100.00 to $120.00 and gave the stock a "sector outperform" rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average 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.