West Fraser Timber (NYSE:WFG) Trading 4.2% Higher

West Fraser Timber Co. Ltd. (NYSE:WFG) was up 4.2% on Thursday . The stock traded as high as $90.15 and last traded at $90.15. Approximately 16,002 shares traded hands during trading, a decline of 90% from the average daily volume of 161,476 shares. The stock had previously closed at $86.53.

Wall Street Analysts Forecast Growth

WFG has been the subject of a number of research analyst reports. Royal Bank of Canada raised their price target on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their price objective on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, West Fraser Timber currently has an average rating of “Buy” and a consensus price target of $105.60.

West Fraser Timber Trading Up 2.3 %

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33. The firm has a fifty day moving average of $82.86 and a 200 day moving average of $81.21. The firm has a market capitalization of $6.98 billion, a PE ratio of -72.60 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. The business had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period in the previous year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities research analysts expect that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 26th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Wednesday, June 26th. West Fraser Timber’s dividend payout ratio (DPR) is presently -105.79%.

Institutional Investors Weigh In On West Fraser Timber

Several hedge funds have recently modified their holdings of WFG. Russell Investments Group Ltd. boosted its position in shares of West Fraser Timber by 0.7% in the fourth quarter. Russell Investments Group Ltd. now owns 76,836 shares of the company’s stock valued at $6,607,000 after acquiring an additional 558 shares during the period. Van ECK Associates Corp raised its stake in shares of West Fraser Timber by 63.9% in the fourth quarter. Van ECK Associates Corp now owns 2,806 shares of the company’s stock valued at $240,000 after purchasing an additional 1,094 shares in the last quarter. Nicola Wealth Management LTD. acquired a new position in shares of West Fraser Timber in the fourth quarter valued at $3,569,000. Norges Bank acquired a new position in shares of West Fraser Timber in the fourth quarter valued at $76,413,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of West Fraser Timber in the fourth quarter valued at $462,000. 40.23% of the stock is owned by institutional investors.

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.