Northwest & Ethical Investments L.P. Sells 2,628 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Northwest & Ethical Investments L.P. lessened its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 9.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,931 shares of the company’s stock after selling 2,628 shares during the period. Northwest & Ethical Investments L.P.’s holdings in West Fraser Timber were worth $2,527,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Park Place Capital Corp acquired a new position in West Fraser Timber in the 2nd quarter worth about $31,000. Signaturefd LLC increased its stake in shares of West Fraser Timber by 60.0% in the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after buying an additional 186 shares during the period. Ensign Peak Advisors Inc acquired a new stake in shares of West Fraser Timber in the second quarter valued at about $44,000. US Bancorp DE increased its stake in shares of West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after buying an additional 582 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of West Fraser Timber in the first quarter valued at about $218,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets increased their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank raised their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, West Fraser Timber currently has an average rating of “Buy” and a consensus target price of $111.60.

West Fraser Timber Stock Up 0.8 %

NYSE WFG opened at $99.00 on Friday. The business has a 50 day simple moving average of $95.64 and a 200 day simple moving average of $87.04. West Fraser Timber Co. Ltd. has a one year low of $72.35 and a one year high of $102.40.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. During the same period in the prior year, the business earned $1.81 EPS. On average, equities analysts predict that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were issued a $0.237 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a yield of 0.96%. West Fraser Timber’s payout ratio is currently -74.22%.

About West Fraser Timber

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.