West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC trimmed its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 23.2% in the second quarter, Holdings Channel.com reports. The firm owned 581 shares of the company’s stock after selling 176 shares during the period. EverSource Wealth Advisors LLC’s holdings in West Fraser Timber were worth $45,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Park Place Capital Corp purchased a new position in West Fraser Timber in the 2nd quarter valued at about $31,000. Signaturefd LLC boosted its holdings 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 purchasing an additional 186 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in West Fraser Timber during the 4th quarter valued at approximately $43,000. Ensign Peak Advisors Inc purchased a new stake in West Fraser Timber during the 2nd quarter worth approximately $44,000. Finally, UniSuper Management Pty Ltd raised its position in shares of West Fraser Timber by 100.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $69,000 after purchasing an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Trading Up 0.4 %

West Fraser Timber stock opened at $96.47 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33. West Fraser Timber Co. Ltd. has a 1 year low of $64.11 and a 1 year high of $97.41. The firm’s 50-day moving average is $87.99 and its 200-day moving average is $82.61. The company has a market cap of $7.61 billion, a P/E ratio of -79.73 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts expect that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 26th will be issued a dividend of $0.237 per share. This represents a $0.95 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s dividend payout ratio (DPR) is -77.69%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of West Fraser Timber from $92.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Royal Bank of Canada upped their target price on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four research 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, the company currently has a consensus rating of “Buy” and a consensus target price 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.