Chesapeake Capital Corp IL Makes New $587,000 Investment in West Fraser Timber Co. Ltd. (NYSE:WFG)

Chesapeake Capital Corp IL bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,081 shares of the company’s stock, valued at approximately $587,000.

Several other hedge funds also recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its stake in West Fraser Timber by 0.4% during the third quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock worth $6,966,000 after buying an additional 311 shares during the period. Metis Global Partners LLC boosted its stake in West Fraser Timber by 37.2% during the third quarter. Metis Global Partners LLC now owns 20,978 shares of the company’s stock worth $2,044,000 after buying an additional 5,686 shares during the period. Principal Financial Group Inc. boosted its stake in West Fraser Timber by 12.4% during the third quarter. Principal Financial Group Inc. now owns 11,974 shares of the company’s stock worth $1,168,000 after buying an additional 1,323 shares during the period. D.B. Root & Company LLC purchased a new position in West Fraser Timber during the third quarter worth about $223,000. Finally, Van ECK Associates Corp boosted its stake in West Fraser Timber by 4,057.8% during the third quarter. Van ECK Associates Corp now owns 193,752 shares of the company’s stock worth $18,321,000 after buying an additional 189,092 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on WFG shares. Scotiabank increased their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. Royal Bank of Canada increased their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets increased their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $111.60.

West Fraser Timber Stock Down 0.9 %

Shares of NYSE:WFG opened at $91.88 on Friday. The firm’s 50 day moving average price is $94.64 and its 200 day moving average price is $86.00. West Fraser Timber Co. Ltd. has a fifty-two week low of $72.35 and a fifty-two week high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same period last year, the business earned $1.81 EPS. Analysts expect that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a $0.237 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a yield of 1.03%. West Fraser Timber’s dividend payout ratio (DPR) is -74.22%.

West Fraser Timber Company Profile

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.