Jane Street Group LLC Buys 6,891 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Jane Street Group LLC grew its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 35.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,422 shares of the company’s stock after purchasing an additional 6,891 shares during the quarter. Jane Street Group LLC’s holdings in West Fraser Timber were worth $2,574,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in West Fraser Timber by 11.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,931 shares of the company’s stock worth $4,146,000 after acquiring an additional 5,644 shares during the period. Galibier Capital Management Ltd. increased its stake in shares of West Fraser Timber by 152.3% in the second quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company’s stock worth $21,474,000 after purchasing an additional 168,802 shares during the period. Signaturefd LLC lifted its position in shares of West Fraser Timber by 60.0% during the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares during the last quarter. CIBC Asset Management Inc grew its holdings in West Fraser Timber by 7.5% in the 2nd quarter. CIBC Asset Management Inc now owns 71,160 shares of the company’s stock valued at $5,462,000 after buying an additional 4,946 shares during the last quarter. Finally, Versor Investments LP lifted its holdings in shares of West Fraser Timber by 14.0% during the second quarter. Versor Investments LP now owns 16,300 shares of the company’s stock worth $1,252,000 after buying an additional 1,999 shares during the last quarter. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Trading Up 1.1 %

Shares of NYSE WFG opened at $85.58 on Monday. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of -66.86 and a beta of 1.19. West Fraser Timber Co. Ltd. has a one year low of $73.91 and a one year high of $102.40. The business has a fifty day simple moving average of $93.72 and a 200 day simple moving average of $88.34.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data 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 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 quarter in the prior year, the company posted $1.81 EPS. On average, research 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th will be paid a $0.32 dividend. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, December 27th. West Fraser Timber’s dividend payout ratio is currently -73.44%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on WFG. BMO Capital Markets raised their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank increased their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $111.60.

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.