Envestnet Asset Management Inc. Has $3.84 Million Holdings in West Fraser Timber Co. Ltd. $WFG

Envestnet Asset Management Inc. raised its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 77.7% during the third quarter, HoldingsChannel.com reports. The fund owned 56,435 shares of the company’s stock after purchasing an additional 24,672 shares during the period. Envestnet Asset Management Inc.’s holdings in West Fraser Timber were worth $3,837,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in WFG. Thrivent Financial for Lutherans lifted its holdings in shares of West Fraser Timber by 31,861.9% in the third quarter. Thrivent Financial for Lutherans now owns 896,852 shares of the company’s stock worth $60,968,000 after acquiring an additional 894,046 shares during the last quarter. Manning & Napier Advisors LLC increased its position in West Fraser Timber by 91.6% during the 3rd quarter. Manning & Napier Advisors LLC now owns 1,671,846 shares of the company’s stock worth $113,656,000 after purchasing an additional 799,422 shares in the last quarter. Norges Bank bought a new position in West Fraser Timber in the 2nd quarter valued at approximately $56,870,000. Mackenzie Financial Corp lifted its stake in West Fraser Timber by 407.6% in the 2nd quarter. Mackenzie Financial Corp now owns 907,620 shares of the company’s stock valued at $66,599,000 after purchasing an additional 728,830 shares during the last quarter. Finally, Lightrock Netherlands B.V. boosted its position in West Fraser Timber by 1,075.2% in the second quarter. Lightrock Netherlands B.V. now owns 259,303 shares of the company’s stock valued at $19,007,000 after buying an additional 237,239 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Performance

NYSE WFG opened at $65.84 on Wednesday. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -5.41 and a beta of 1.12. The company has a quick ratio of 0.86, a current ratio of 2.13 and a debt-to-equity ratio of 0.05. West Fraser Timber Co. Ltd. has a twelve month low of $57.34 and a twelve month high of $80.73. The stock has a fifty day simple moving average of $67.51 and a 200 day simple moving average of $67.09.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, February 11th. The company reported ($2.42) EPS for the quarter, topping the consensus estimate of ($2.71) by $0.29. West Fraser Timber had a negative return on equity of 5.69% and a negative net margin of 17.15%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Investors of record on Friday, March 13th will be issued a $0.32 dividend. The ex-dividend date is Friday, March 13th. This represents a $1.28 annualized dividend and a yield of 1.9%. West Fraser Timber’s dividend payout ratio is presently -10.51%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on WFG shares. Weiss Ratings reiterated a “sell (d)” rating on shares of West Fraser Timber in a report on Wednesday, January 21st. Raymond James Financial upgraded West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 price objective on the stock in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce cut West Fraser Timber from an “outperform” rating to a “neutral” rating in a report on Tuesday, December 9th. Royal Bank Of Canada dropped their target price on West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, December 18th. Finally, Zacks Research lowered West Fraser Timber from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, West Fraser Timber currently has an average rating of “Hold” and a consensus price target of $82.67.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.