West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. decreased its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 35.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,545 shares of the company’s stock after selling 28,898 shares during the period. Oppenheimer & Co. Inc. owned about 0.07% of West Fraser Timber worth $4,116,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of West Fraser Timber during the fourth quarter worth approximately $76,413,000. Manning & Napier Advisors LLC purchased a new stake in shares of West Fraser Timber in the 2nd quarter valued at approximately $42,886,000. 1832 Asset Management L.P. raised its holdings in shares of West Fraser Timber by 178.5% in the 1st quarter. 1832 Asset Management L.P. now owns 835,774 shares of the company’s stock valued at $72,236,000 after purchasing an additional 535,708 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of West Fraser Timber by 161.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 509,429 shares of the company’s stock worth $43,597,000 after purchasing an additional 314,750 shares during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new position in shares of West Fraser Timber during the first quarter worth $15,148,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Up 2.5 %

WFG opened at $90.51 on Friday. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $91.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33. The stock has a market capitalization of $7.11 billion, a P/E ratio of -74.80 and a beta of 1.16. The business’s 50-day simple moving average is $84.51 and its 200-day simple moving average is $81.69.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.09). The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned ($0.03) EPS. Analysts anticipate that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current year.

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be given a dividend of $0.237 per share. This represents a $0.95 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s payout ratio is currently -106.61%.

Analyst Upgrades and Downgrades

WFG has been the topic of a number of analyst reports. BMO Capital Markets raised their price target on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their target price on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average price target of $105.60.

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.