West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 85.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,880 shares of the company’s stock after selling 16,993 shares during the quarter. Wellington Management Group LLP’s holdings in West Fraser Timber were worth $281,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFG. Quantinno Capital Management LP acquired a new stake in shares of West Fraser Timber during the third quarter worth about $258,000. Janus Henderson Group PLC grew its stake in West Fraser Timber by 383.7% during the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock worth $7,296,000 after buying an additional 59,347 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in West Fraser Timber by 28.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,066 shares of the company’s stock worth $3,713,000 after buying an additional 8,372 shares during the period. FMR LLC increased its position in West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock worth $141,047,000 after buying an additional 266,298 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in West Fraser Timber by 43.5% in the third quarter. The Manufacturers Life Insurance Company now owns 143,712 shares of the company’s stock valued at $14,008,000 after buying an additional 43,549 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Price Performance

Shares of NYSE WFG opened at $85.58 on Friday. The stock has a fifty day moving average price of $93.72 and a 200 day moving average price of $88.26. West Fraser Timber Co. Ltd. has a 1-year low of $73.91 and a 1-year high of $102.40. The company has a market cap of $6.87 billion, a PE ratio of -66.86 and a beta of 1.19.

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

West Fraser Timber Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th will be given a dividend of $0.32 per share. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, December 27th. This represents a $1.28 annualized dividend and a yield of 1.50%. West Fraser Timber’s payout ratio is presently -73.44%.

Analysts Set New Price Targets

WFG has been the topic of a number of research reports. BMO Capital Markets raised their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank lifted 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 note on Friday, October 25th. Four equities 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, West Fraser Timber currently has a consensus rating of “Buy” and a consensus price target of $111.60.

West Fraser Timber Company 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.