Quantinno Capital Management LP Invests $258,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

Quantinno Capital Management LP bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 2,646 shares of the company’s stock, valued at approximately $258,000.

Other hedge funds also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans purchased a new stake in shares of West Fraser Timber during the second quarter worth about $52,645,000. FMR LLC increased its stake in 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 shares of 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 buying an additional 189,092 shares during the last quarter. Galibier Capital Management Ltd. lifted its stake 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 worth $21,474,000 after buying an additional 168,802 shares during the period. Finally, 1832 Asset Management L.P. grew its holdings in shares of West Fraser Timber by 18.4% during the second quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company’s stock valued at $76,053,000 after buying an additional 153,600 shares during the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Down 1.7 %

Shares of WFG stock opened at $87.94 on Tuesday. West Fraser Timber Co. Ltd. has a 52-week low of $73.91 and a 52-week high of $102.40. The stock has a market cap of $7.06 billion, a PE ratio of -68.70 and a beta of 1.19. The business has a 50-day simple moving average of $94.87 and a 200-day simple moving average of $88.21.

West Fraser Timber (NYSE:WFG) last announced its quarterly 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 company had revenue of $1.44 billion during the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $1.81 earnings per share. 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 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 27th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio (DPR) is currently -74.22%.

Analysts Set New Price Targets

WFG has been the subject of a number of research reports. Scotiabank lifted their price target on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their target price on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, West Fraser Timber presently has an average rating of “Buy” and an average target price of $111.60.

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.