West Fraser Timber Co. Ltd. (NYSE:WFG) Declares $0.32 Quarterly Dividend

West Fraser Timber Co. Ltd. (NYSE:WFG) announced a quarterly dividend on Wednesday, June 10th. Investors of record on Thursday, June 25th will be paid a dividend of 0.32 per share on Monday, July 13th. This represents a c) annualized dividend and a yield of 1.9%. The ex-dividend date is Thursday, June 25th.

West Fraser Timber has a dividend payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect West Fraser Timber to earn $1.37 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 93.4%.

West Fraser Timber Trading Down 1.1%

Shares of WFG stock opened at $66.01 on Thursday. The stock has a market capitalization of $5.17 billion, a PE ratio of -4.39 and a beta of 0.99. West Fraser Timber has a 1-year low of $57.34 and a 1-year high of $78.55. The business has a 50-day moving average of $64.29 and a 200 day moving average of $65.01. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 0.66.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its position in shares of West Fraser Timber by 72.2% in the 1st quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock worth $29,000 after acquiring an additional 184 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of West Fraser Timber by 2.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,832 shares of the company’s stock worth $478,000 after acquiring an additional 192 shares in the last quarter. Physician Wealth Advisors Inc. raised its position in shares of West Fraser Timber by 177.0% in the 1st quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after acquiring an additional 370 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of West Fraser Timber by 0.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 47,750 shares of the company’s stock worth $3,115,000 after acquiring an additional 370 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of West Fraser Timber by 6.3% in the 1st quarter. Sei Investments Co. now owns 7,643 shares of the company’s stock worth $499,000 after acquiring an additional 453 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

About West Fraser Timber

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.