West Fraser Timber (WFT) Hits New 12-Month Low at $62.53

Shares of West Fraser Timber Co. Ltd. (TSE:WFT) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as C$62.53 and last traded at C$63.21, with a volume of 585539 shares changing hands. The stock had previously closed at C$66.23.

Several analysts recently issued reports on the stock. CIBC boosted their target price on shares of West Fraser Timber from C$110.00 to C$112.00 in a research report on Thursday, July 12th. TD Securities upgraded shares of West Fraser Timber from a “hold” rating to a “buy” rating and upped their price target for the stock from C$99.00 to C$102.00 in a research report on Monday, July 23rd. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of C$95.00.

West Fraser Timber (TSE:WFT) last posted its quarterly earnings results on Thursday, July 19th. The company reported C$5.19 earnings per share for the quarter. The business had revenue of C$1.83 billion during the quarter. West Fraser Timber had a net margin of 15.04% and a return on equity of 31.45%.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 9th. Shareholders of record on Tuesday, October 9th were given a $0.20 dividend. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.15. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date was Monday, September 24th.

In other news, insider Christopher Virostek purchased 600 shares of the company’s stock in a transaction on Thursday, September 20th. The stock was acquired at an average cost of C$78.97 per share, for a total transaction of C$47,382.00.

About West Fraser Timber (TSE:WFT)

West Fraser Timber Co Ltd. produces and sells lumber, panels, and pulp and paper in western Canada and the southern United States. The company offers spruce/pine/fir and southern yellow pine lumber, as well as newsprint, wood chips, and lignin. It also provides treated wood, medium density fiberboard panels, laminated veneer lumber panels, and plywood; northern bleached softwood Kraft pulp used to produce various paper products, including printing and writing papers, specialty grades, and various tissue products; and bleached chemical thermo-mechanical pulp that is used to produce coated board grades, printing and writing paper, and paper towel/napkin grades, as well as specialty papers and tissue grades.

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