15 Best Lumber Stocks To Buy Now

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08. West Fraser Timber Co. Ltd. (NYSE:WFG)

Number of Hedge Fund Holders: 18

West Fraser Timber Co. Ltd. (NYSE:WFG), a diversified wood products company, manufactures and distributes lumber, engineered wood products, pulp, newsprint, and renewable energy. It markets its products to major retail chains, contractor supply yards, wholesalers, and industrial customers for further processing or as components for other goods across Canada, the United States, the United Kingdom, Europe, and globally. Established in 1955, the company is headquartered in Vancouver, Canada. On July 29, CIBC analyst Hamir Patel raised the firm’s price target for West Fraser Timber Co. Ltd. (NYSE:WFG) to C$138 from C$125, while maintaining an Outperform rating, reflecting confidence in the company’s future performance. In the latest quarter, announced on July 24, West Fraser Timber Co. Ltd. (NYSE:WFG) reported a normalized EPS of $1.34, surpassing estimates by $0.18. The company also beat revenue estimates with $1.70 billion, surpassing forecasts by $124.06 million. The company offers a forward dividend yield of 1.44% with an annual payout of $1.28 and a payout ratio of 49.94%. The dividend has grown at an impressive 16.66% over the past five years and has been increasing for three years. This indicates a stable return for investors and a strong commitment to rewarding shareholders.

In the first quarter of 2024, the number of hedge funds with stakes in West Fraser Timber Co. Ltd. (NYSE:WFG) increased to 18 from 16 in the previous quarter, according to Insider Monkey’s database. The combined value of these stakes is approximately $138.42 million. Israel Englander’s Millennium Management emerged as the largest stakeholder among these hedge funds during this period.

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