JPMorgan Chase & Co. Sells 66,829 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

JPMorgan Chase & Co. trimmed its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 21.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 246,951 shares of the company's stock after selling 66,829 shares during the period. JPMorgan Chase & Co. owned approximately 0.31% of West Fraser Timber worth $24,043,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in WFG. Ensign Peak Advisors Inc bought a new position in West Fraser Timber during the 2nd quarter valued at about $44,000. Signaturefd LLC raised its stake in shares of West Fraser Timber by 77.4% in the third quarter. Signaturefd LLC now owns 880 shares of the company's stock valued at $86,000 after acquiring an additional 384 shares during the last quarter. US Bancorp DE boosted its holdings in shares of West Fraser Timber by 82.9% in the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company's stock worth $125,000 after acquiring an additional 582 shares in the last quarter. D.B. Root & Company LLC bought a new stake in West Fraser Timber during the 3rd quarter worth approximately $223,000. Finally, Quantinno Capital Management LP acquired a new stake in West Fraser Timber during the 3rd quarter valued at $258,000. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Scotiabank increased their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a "sector outperform" rating in a report on Friday, October 25th. BMO Capital Markets increased their price objective on shares of 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, West Fraser Timber currently has a consensus rating of "Buy" and an average price target of $111.60.

West Fraser Timber Price Performance

Shares of NYSE WFG traded down $3.14 during midday trading on Thursday, hitting $85.17. The stock had a trading volume of 303,549 shares, compared to its average volume of 152,530. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The firm has a market cap of $6.83 billion, a P/E ratio of -66.54 and a beta of 1.22. The company's 50-day simple moving average is $91.19 and its 200 day simple moving average is $89.08.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. During the same period in the prior year, the firm posted $1.81 earnings per share. Equities analysts expect that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current fiscal year.

West Fraser Timber Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th will be paid a $0.32 dividend. The ex-dividend date is Friday, December 27th. This is a boost from West Fraser Timber's previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. West Fraser Timber's dividend payout ratio (DPR) is presently -100.00%.

West Fraser Timber Company 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.