West Fraser Timber Co. Ltd. (NYSE:WFG) Position Decreased by Versor Investments LP

Versor Investments LP reduced its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 52.7% during the third quarter, Holdings Channel reports. The firm owned 7,703 shares of the company’s stock after selling 8,597 shares during the period. Versor Investments LP’s holdings in West Fraser Timber were worth $751,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WFG. Toronto Dominion Bank grew its holdings in shares of West Fraser Timber by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock worth $2,309,000 after acquiring an additional 125 shares during the last quarter. Signaturefd LLC raised its holdings in West Fraser Timber by 60.0% during the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after buying an additional 186 shares during the period. Inspire Advisors LLC boosted its holdings in shares of West Fraser Timber by 4.3% in the second quarter. Inspire Advisors LLC now owns 4,592 shares of the company’s stock worth $353,000 after buying an additional 189 shares during the period. Moors & Cabot Inc. increased its position in shares of West Fraser Timber by 4.7% in the second quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock worth $328,000 after acquiring an additional 190 shares in the last quarter. Finally, Bank of Nova Scotia Trust Co. raised its holdings in shares of West Fraser Timber by 6.9% during the first quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after acquiring an additional 224 shares during the period. 40.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on WFG. BMO Capital Markets lifted their price objective 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. Scotiabank upped their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada raised their price objective on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, West Fraser Timber currently has a consensus rating of “Buy” and an average target price of $111.60.

West Fraser Timber Price Performance

WFG opened at $92.25 on Wednesday. The stock has a fifty day moving average price of $94.35 and a 200 day moving average price of $85.74. West Fraser Timber Co. Ltd. has a 1 year low of $72.33 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The firm had revenue of $1.44 billion for 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 quarter in the prior year, the firm earned $1.81 earnings per share. Research analysts expect that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend 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.