KGH Ltd lifted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 38.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 187,452 shares of the company's stock after purchasing an additional 52,452 shares during the quarter. West Fraser Timber accounts for about 0.8% of KGH Ltd's investment portfolio, making the stock its 22nd biggest holding. KGH Ltd owned 0.24% of West Fraser Timber worth $14,399,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of WFG. Park Place Capital Corp purchased a new position in shares of West Fraser Timber in the second quarter valued at about $31,000. Signaturefd LLC lifted its position in shares of West Fraser Timber by 60.0% in the second quarter. Signaturefd LLC now owns 496 shares of the company's stock valued at $38,000 after acquiring an additional 186 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of West Fraser Timber in the fourth quarter valued at about $43,000. Ensign Peak Advisors Inc purchased a new stake in shares of West Fraser Timber in the second quarter worth about $44,000. Finally, UniSuper Management Pty Ltd lifted its position in shares of West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock worth $69,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.
West Fraser Timber Trading Up 0.7 %
WFG stock traded up $0.70 during midday trading on Tuesday, reaching $98.06. 106,499 shares of the company traded hands, compared to its average volume of 157,876. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of -81.01 and a beta of 1.16. The business has a 50 day moving average of $88.35 and a 200-day moving average of $82.73. West Fraser Timber Co. Ltd. has a 52-week low of $64.11 and a 52-week high of $98.41. 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 - Get Free Report) last released its earnings results on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing analysts' consensus estimates 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 net margin of 2.23% and a return on equity of 3.83%. The company's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current fiscal year.
West Fraser Timber Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.237 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 0.97%. West Fraser Timber's dividend payout ratio is presently -78.51%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on WFG. Royal Bank of Canada boosted their target price 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. BMO Capital Markets boosted their target price on West Fraser Timber from $92.00 to $105.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 30th. 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 MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $105.60.
View Our Latest Research Report on West Fraser Timber
West Fraser Timber Profile
(
Free Report)
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.
See Also
Before you consider West Fraser Timber, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and West Fraser Timber wasn't on the list.
While West Fraser Timber currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
