Marnell Management LLC Purchases New Position in West Fraser Timber Co. Ltd. $WFG

Marnell Management LLC purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 7,900 shares of the company’s stock, valued at approximately $483,000.

Several other hedge funds and other institutional investors also recently modified their holdings of WFG. Jones Financial Companies Lllp increased its position in shares of West Fraser Timber by 212.0% during the third quarter. Jones Financial Companies Lllp now owns 780 shares of the company’s stock valued at $52,000 after buying an additional 530 shares during the period. Jain Global LLC purchased a new position in shares of West Fraser Timber during the third quarter valued at about $224,000. Park Avenue Securities LLC purchased a new position in shares of West Fraser Timber during the fourth quarter valued at about $229,000. Sei Investments Co. increased its position in shares of West Fraser Timber by 29.8% during the second quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock valued at $291,000 after buying an additional 912 shares during the period. Finally, FourThought Financial Partners LLC purchased a new position in shares of West Fraser Timber during the third quarter valued at about $303,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on WFG shares. Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a report on Monday, April 20th. Royal Bank Of Canada cut their price objective on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. TD Securities restated a “buy” rating and issued a $86.00 price objective on shares of West Fraser Timber in a report on Friday, May 1st. Finally, Fraser Mackenzie cut their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, West Fraser Timber presently has a consensus rating of “Hold” and a consensus price target of $82.60.

West Fraser Timber Price Performance

Shares of WFG opened at $68.96 on Monday. The firm’s 50-day simple moving average is $64.39 and its two-hundred day simple moving average is $65.13. The stock has a market cap of $5.40 billion, a PE ratio of -4.59 and a beta of 0.99. West Fraser Timber Co. Ltd. has a fifty-two week low of $57.34 and a fifty-two week high of $78.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 1.84.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.23) by ($1.17). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. West Fraser Timber had a negative return on equity of 9.67% and a negative net margin of 21.86%. Analysts anticipate that West Fraser Timber Co. Ltd. will post -3.99 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Thursday, June 25th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Thursday, June 25th. West Fraser Timber’s dividend payout ratio is currently -8.51%.

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.