International Assets Investment Management LLC Invests $12.37 Million in West Fraser Timber Co. Ltd. (NYSE:WFG)

International Assets Investment Management LLC acquired a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 127,055 shares of the company's stock, valued at approximately $12,370,000. International Assets Investment Management LLC owned about 0.16% of West Fraser Timber as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of WFG. Manning & Napier Advisors LLC purchased a new position in shares of West Fraser Timber during the second quarter worth about $42,886,000. Cumberland Partners Ltd acquired a new stake in shares of West Fraser Timber in the 1st quarter worth $1,011,000. Envestnet Asset Management Inc. purchased a new stake in shares of West Fraser Timber in the second quarter valued at about $1,862,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of West Fraser Timber by 27.7% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company's stock worth $320,000 after acquiring an additional 802 shares during the period. Finally, Pacifica Partners Inc. raised its holdings in West Fraser Timber by 816.2% during 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 in the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted their target price on shares of 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 lifted their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Finally, Scotiabank boosted their target price 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 assigned a strong buy rating to the company. According to MarketBeat, West Fraser Timber has an average rating of "Buy" and a consensus price target of $111.60.

West Fraser Timber Trading Down 3.7 %

Shares of NYSE WFG traded down $3.51 during trading on Thursday, reaching $90.40. The company had a trading volume of 339,900 shares, compared to its average volume of 160,777. The stock has a 50-day moving average price of $93.78 and a two-hundred day moving average price of $84.86. West Fraser Timber Co. Ltd. has a twelve month low of $65.68 and a twelve month high of $102.40. The stock has a market capitalization of $7.25 billion, a PE ratio of -70.63 and a beta of 1.16.

West Fraser Timber (NYSE:WFG - Get Free Report) last released 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 positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same quarter last year, the company posted $1.81 earnings per share. On average, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 1.61 EPS for the current year.

West Fraser Timber Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were paid a $0.237 dividend. This represents a $0.95 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Thursday, September 26th. West Fraser Timber's dividend payout ratio is currently -73.44%.

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.