West Fraser Timber Co. Ltd. $WFG Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 33.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 168,456 shares of the company’s stock after acquiring an additional 41,851 shares during the period. Allianz Asset Management GmbH owned 0.22% of West Fraser Timber worth $12,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC acquired a new stake in shares of West Fraser Timber in the second quarter valued at approximately $27,000. Parallel Advisors LLC lifted its stake in West Fraser Timber by 265.1% in the 2nd quarter. Parallel Advisors LLC now owns 398 shares of the company’s stock valued at $29,000 after buying an additional 289 shares in the last quarter. GAMMA Investing LLC grew its holdings in West Fraser Timber by 7,588.9% during the 1st quarter. GAMMA Investing LLC now owns 692 shares of the company’s stock valued at $53,000 after buying an additional 683 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in West Fraser Timber by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company’s stock worth $216,000 after buying an additional 181 shares in the last quarter. Finally, Gulf International Bank UK Ltd raised its holdings in shares of West Fraser Timber by 1,396.5% in the first quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company’s stock worth $230,000 after acquiring an additional 2,793 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Trading Down 1.8%

NYSE WFG opened at $65.63 on Tuesday. The company has a market cap of $5.18 billion, a P/E ratio of -37.50 and a beta of 1.13. West Fraser Timber Co. Ltd. has a 12 month low of $65.46 and a 12 month high of $100.33. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 1.61. The company has a 50-day moving average of $71.47 and a 200-day moving average of $73.05.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.74). The company had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. As a group, equities analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Thursday, September 25th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Thursday, September 25th. West Fraser Timber’s dividend payout ratio (DPR) is -73.14%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Securities decreased their price objective on West Fraser Timber from $98.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, July 25th. Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a report on Wednesday, October 8th. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, September 26th. Raymond James Financial reduced their price objective on shares of West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada decreased their target price on shares of West Fraser Timber from $97.00 to $92.00 and set an “outperform” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $94.60.

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.