West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 43.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,090 shares of the company’s stock after selling 2,334 shares during the period. Intech Investment Management LLC’s holdings in West Fraser Timber were worth $237,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WFG. Hsbc Holdings PLC boosted its holdings in shares of West Fraser Timber by 29.3% in the 4th quarter. Hsbc Holdings PLC now owns 268,764 shares of the company’s stock valued at $23,005,000 after buying an additional 60,823 shares in the last quarter. TD Asset Management Inc boosted its holdings in shares of West Fraser Timber by 5.6% in the 4th quarter. TD Asset Management Inc now owns 361,220 shares of the company’s stock valued at $31,054,000 after buying an additional 19,124 shares in the last quarter. Alberta Investment Management Corp boosted its holdings in shares of West Fraser Timber by 86.7% in the 4th quarter. Alberta Investment Management Corp now owns 116,505 shares of the company’s stock valued at $10,016,000 after buying an additional 54,118 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in West Fraser Timber by 36.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 83,705 shares of the company’s stock valued at $7,163,000 after purchasing an additional 22,438 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in West Fraser Timber by 30.2% in the 4th quarter. 1832 Asset Management L.P. now owns 300,066 shares of the company’s stock valued at $25,680,000 after purchasing an additional 69,688 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on WFG. Royal Bank of Canada upped their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets upped their price target on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $105.60.

West Fraser Timber Stock Up 0.4 %

Shares of West Fraser Timber stock opened at $96.47 on Friday. The company has a market cap of $7.61 billion, a P/E ratio of -79.73 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. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $97.41. The firm has a fifty day moving average of $87.99 and a two-hundred day moving average of $82.61.

West Fraser Timber (NYSE:WFG) last posted 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 period last year, the company earned ($0.03) earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current year.

West Fraser Timber Cuts Dividend

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