Ritholtz Wealth Management Decreases Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Ritholtz Wealth Management decreased its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 11.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,594 shares of the company’s stock after selling 830 shares during the period. Ritholtz Wealth Management’s holdings in West Fraser Timber were worth $642,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WFG. Toronto Dominion Bank lifted its holdings in shares of West Fraser Timber by 0.4% during the 2nd quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock valued at $2,309,000 after buying an additional 125 shares during the period. Signaturefd LLC increased its position in West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after acquiring an additional 186 shares during the last quarter. Inspire Advisors LLC boosted its position in 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 purchasing an additional 189 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of West Fraser Timber by 4.7% during the 2nd quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock valued at $328,000 after purchasing an additional 190 shares during the period. Finally, Bank of Nova Scotia Trust Co. grew its stake in shares of West Fraser Timber by 6.9% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WFG. BMO Capital Markets increased their price objective 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 increased their price target on shares of 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 investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $105.60.

West Fraser Timber Stock Down 0.1 %

WFG stock opened at $100.96 on Wednesday. The business’s 50-day moving average price is $91.44 and its 200-day moving average price is $83.81. The stock has a market cap of $7.96 billion, a P/E ratio of -83.44 and a beta of 1.16. West Fraser Timber Co. Ltd. has a twelve month low of $64.11 and a twelve month high of $102.40. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share 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 analysts’ expectations of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. West Fraser Timber’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.03) EPS. On average, equities research analysts forecast 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 was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 0.94%. West Fraser Timber’s dividend payout ratio is presently -77.69%.

West Fraser Timber 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.