West Fraser Timber Co. Ltd. (NYSE:WFG) to Issue Quarterly Dividend of $0.32

West Fraser Timber Co. Ltd. (NYSE:WFG) declared a quarterly dividend on Wednesday, June 10th. Shareholders of record on Thursday, June 25th will be given 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 of this dividend is Thursday, June 25th.

West Fraser Timber has a payout ratio of 21.9% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Down 1.1%

Shares of NYSE WFG opened at $66.01 on Thursday. West Fraser Timber has a one year low of $57.34 and a one year high of $78.55. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 0.66. The business’s fifty day moving average price is $64.29 and its 200-day moving average price is $65.01. 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 (NYSE:WFG) last issued its quarterly earnings results on Wednesday, April 29th. The company reported ($2.40) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.32 billion. On average, equities research analysts anticipate that West Fraser Timber will post -3.99 EPS for the current year.

Hedge Funds Weigh In On West Fraser Timber

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in West Fraser Timber by 72.2% during the 1st quarter. Parallel Advisors LLC now owns 439 shares of the company’s stock valued at $29,000 after acquiring an additional 184 shares during the period. EFG International AG purchased a new stake in West Fraser Timber during the 4th quarter valued at about $31,000. Physician Wealth Advisors Inc. boosted its holdings in West Fraser Timber by 177.0% during the 1st quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock valued at $38,000 after acquiring an additional 370 shares during the period. Jones Financial Companies Lllp boosted its holdings in West Fraser Timber by 212.0% during the 3rd quarter. Jones Financial Companies Lllp now owns 780 shares of the company’s stock valued at $52,000 after acquiring an additional 530 shares during the period. Finally, Aegis Financial Corp purchased a new stake in West Fraser Timber during the 1st quarter valued at about $205,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

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.