Quantbot Technologies LP Sells 16,839 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Quantbot Technologies LP decreased its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 82.2% during the third quarter, HoldingsChannel.com reports. The firm owned 3,648 shares of the company’s stock after selling 16,839 shares during the period. Quantbot Technologies LP’s holdings in West Fraser Timber were worth $355,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans purchased a new position in shares of West Fraser Timber during the second quarter worth about $52,645,000. Manning & Napier Advisors LLC purchased a new position in shares of West Fraser Timber during the second quarter valued at approximately $42,886,000. FMR LLC boosted its stake in shares of West Fraser Timber by 22.5% during the 3rd quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after purchasing an additional 266,298 shares in the last quarter. Van ECK Associates Corp raised its holdings in West Fraser Timber by 4,057.8% in the third quarter. Van ECK Associates Corp now owns 193,752 shares of the company’s stock worth $18,321,000 after purchasing an additional 189,092 shares in the last quarter. Finally, Galibier Capital Management Ltd. lifted its holdings in shares of West Fraser Timber by 152.3% during the second quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company’s stock valued at $21,474,000 after purchasing an additional 168,802 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

WFG has been the topic of several analyst reports. BMO Capital Markets upped their price objective on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank raised their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $111.60.

West Fraser Timber Stock Up 0.8 %

Shares of WFG stock opened at $95.01 on Wednesday. The business has a 50-day simple moving average of $95.71 and a 200-day simple moving average of $87.37. The stock has a market cap of $7.62 billion, a PE ratio of -74.23 and a beta of 1.19. West Fraser Timber Co. Ltd. has a 52-week low of $72.56 and a 52-week high of $102.40.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same quarter last year, the business earned $1.81 EPS. Sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, September 26th. West Fraser Timber’s dividend payout ratio is presently -74.22%.

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.