Deutsche Bank AG Purchases 264,322 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Deutsche Bank AG increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 202.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 395,101 shares of the company’s stock after acquiring an additional 264,322 shares during the period. Deutsche Bank AG owned approximately 0.51% of West Fraser Timber worth $30,399,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. LPL Financial LLC increased its holdings in shares of West Fraser Timber by 46.6% in the fourth quarter. LPL Financial LLC now owns 6,642 shares of the company’s stock worth $575,000 after purchasing an additional 2,111 shares during the period. Franklin Resources Inc. boosted its stake in West Fraser Timber by 16.0% during the fourth quarter. Franklin Resources Inc. now owns 11,361 shares of the company’s stock valued at $983,000 after buying an additional 1,571 shares during the period. Geode Capital Management LLC grew its position in West Fraser Timber by 31.5% during the fourth quarter. Geode Capital Management LLC now owns 306,463 shares of the company’s stock worth $26,409,000 after buying an additional 73,335 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in West Fraser Timber by 8.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 24,589 shares of the company’s stock worth $2,129,000 after acquiring an additional 1,969 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in West Fraser Timber in the 4th quarter worth about $487,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $72.25 on Wednesday. The stock’s 50-day moving average is $73.86 and its 200 day moving average is $75.96. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of -41.29 and a beta of 1.15. West Fraser Timber Co. Ltd. has a 1-year low of $68.63 and a 1-year high of $102.40. The company has a current ratio of 2.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.74). The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. On average, sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Thursday, June 26th were paid a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.8%. West Fraser Timber’s payout ratio is currently -73.14%.

Analysts Set New Price Targets

WFG has been the subject of a number of research analyst reports. Royal Bank Of Canada dropped their price target on West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Wall Street Zen lowered shares of West Fraser Timber from a “hold” rating to a “sell” rating in a research report on Friday, July 18th. Raymond James Financial reissued a “market perform” rating on shares of West Fraser Timber in a report on Monday, July 21st. Finally, TD Securities lowered their price objective on shares of West Fraser Timber from $98.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, July 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.00.

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.