Connor Clark & Lunn Investment Management Ltd. decreased its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 45.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 197,406 shares of the company's stock after selling 164,545 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.25% of West Fraser Timber worth $19,231,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Place Capital Corp bought a new position in West Fraser Timber during the 2nd quarter valued at approximately $31,000. Signaturefd LLC raised its position in shares of West Fraser Timber by 60.0% in 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. Ensign Peak Advisors Inc bought a new position in West Fraser Timber in the 2nd quarter worth about $44,000. UniSuper Management Pty Ltd grew its position in West Fraser Timber by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock valued at $69,000 after purchasing an additional 400 shares during the last quarter. Finally, US Bancorp DE increased its stake in West Fraser Timber by 82.9% during the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company's stock valued at $125,000 after purchasing an additional 582 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.
West Fraser Timber Stock Up 1.1 %
NYSE WFG opened at $93.44 on Thursday. The company has a 50-day moving average price of $94.99 and a 200-day moving average price of $86.31. West Fraser Timber Co. Ltd. has a 52 week low of $72.35 and a 52 week high of $102.40.
West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the prior year, the company posted $1.81 earnings per share. On average, equities analysts predict that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current fiscal year.
West Fraser Timber Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a $0.237 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 1.01%. West Fraser Timber's dividend payout ratio is presently -74.22%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Royal Bank of Canada raised their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an "outperform" rating in a report on Friday, July 26th. Finally, Scotiabank boosted 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 report on Friday, October 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $111.60.
View Our Latest Analysis on WFG
About West Fraser Timber
(
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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