Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 45.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 197,406 shares of the company's stock after selling 164,545 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.25% of West Fraser Timber worth $19,231,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Toronto Dominion Bank grew its holdings in West Fraser Timber by 0.4% during the second quarter. Toronto Dominion Bank now owns 30,040 shares of the company's stock valued at $2,309,000 after purchasing an additional 125 shares during the period. Signaturefd LLC grew its stake in shares of West Fraser Timber by 60.0% during the 2nd quarter. Signaturefd LLC now owns 496 shares of the company's stock valued at $38,000 after acquiring an additional 186 shares during the period. Inspire Advisors LLC increased its holdings in West Fraser Timber by 4.3% in the 2nd quarter. Inspire Advisors LLC now owns 4,592 shares of the company's stock worth $353,000 after acquiring an additional 189 shares in the last quarter. Moors & Cabot Inc. raised its stake in West Fraser Timber by 4.7% during the 2nd quarter. Moors & Cabot Inc. now owns 4,270 shares of the company's stock worth $328,000 after acquiring an additional 190 shares during the period. Finally, Bank of Nova Scotia Trust Co. boosted its position in shares of West Fraser Timber by 6.9% in the first quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company's stock worth $300,000 after purchasing an additional 224 shares during the period. 40.23% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
WFG has been the topic of several recent analyst reports. 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. BMO Capital Markets boosted 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. Finally, Royal Bank of Canada upped their price objective on West Fraser Timber from $97.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $111.60.
Read Our Latest Report on West Fraser Timber
West Fraser Timber Stock Up 2.2 %
NYSE WFG traded up $2.05 on Thursday, reaching $95.47. The company had a trading volume of 125,370 shares, compared to its average volume of 158,731. West Fraser Timber Co. Ltd. has a 12 month low of $72.35 and a 12 month high of $102.40. The firm's 50 day moving average price is $95.13 and its 200 day moving average price is $86.38. The stock has a market capitalization of $7.66 billion, a PE ratio of -74.59 and a beta of 1.18.
West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share 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 business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm posted $1.81 EPS. On average, research analysts expect that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.
West Fraser Timber Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were given a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 0.99%. West Fraser Timber's dividend payout ratio (DPR) is presently -74.22%.
West Fraser Timber Company Profile
(
Free Report)
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.
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