DekaBank Deutsche Girozentrale Sells 783 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

DekaBank Deutsche Girozentrale trimmed its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,934 shares of the company’s stock after selling 783 shares during the period. DekaBank Deutsche Girozentrale’s holdings in West Fraser Timber were worth $2,590,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WFG. Park Place Capital Corp acquired a new stake in shares of West Fraser Timber in the 2nd quarter valued at $31,000. Signaturefd LLC boosted its position in 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 in the last quarter. ICA Group Wealth Management LLC bought a new stake in West Fraser Timber during the fourth quarter worth about $43,000. UniSuper Management Pty Ltd increased its holdings in shares of West Fraser Timber by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after buying an additional 400 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of West Fraser Timber in the first quarter valued at approximately $103,000. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

West Fraser Timber Stock Down 0.6 %

NYSE:WFG opened at $92.56 on Thursday. The company has a market cap of $7.30 billion, a price-to-earnings ratio of -76.50 and a beta of 1.16. 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’s fifty day moving average price is $85.22 and its two-hundred day moving average price is $81.86. West Fraser Timber Co. Ltd. has a 52-week low of $64.11 and a 52-week high of $93.62.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share (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 net margin of 2.23% and a return on equity of 3.83%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS. On average, 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 declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders 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 dividend yield of 1.02%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s dividend payout ratio is -77.69%.

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.