Galibier Capital Management Ltd. Sells 70,232 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Galibier Capital Management Ltd. lessened its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 25.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 209,423 shares of the company's stock after selling 70,232 shares during the quarter. West Fraser Timber comprises 4.6% of Galibier Capital Management Ltd.'s holdings, making the stock its 14th largest position. Galibier Capital Management Ltd. owned 0.27% of West Fraser Timber worth $20,427,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of West Fraser Timber by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 2,813,970 shares of the company's stock valued at $240,820,000 after buying an additional 28,399 shares during the period. 1832 Asset Management L.P. boosted its position in shares of West Fraser Timber by 18.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company's stock valued at $76,053,000 after purchasing an additional 153,600 shares during the period. Van Lanschot Kempen Investment Management N.V. boosted its position in shares of West Fraser Timber by 15.2% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 692,453 shares of the company's stock valued at $53,229,000 after purchasing an additional 91,490 shares during the period. Thrivent Financial for Lutherans purchased a new position in West Fraser Timber during the 2nd quarter worth $52,645,000. Finally, Vontobel Holding Ltd. boosted its stake in shares of West Fraser Timber by 7.5% in the third quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company's stock valued at $55,683,000 after buying an additional 39,651 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Price Performance

Shares of West Fraser Timber stock traded up $0.39 on Wednesday, hitting $94.02. The company had a trading volume of 49,805 shares, compared to its average volume of 159,341. West Fraser Timber Co. Ltd. has a 52 week low of $65.68 and a 52 week high of $102.40. The company has a market cap of $7.54 billion, a PE ratio of -73.51 and a beta of 1.16. The business has a 50-day simple moving average of $93.54 and a 200-day simple moving average of $84.76.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its 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 positive return on equity of 0.53% and a negative net margin of 1.53%. During the same quarter in the previous year, the firm earned $1.81 earnings per share. On average, equities research analysts predict that West Fraser Timber Co. Ltd. will post 1.61 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were given a $0.237 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.01%. West Fraser Timber's dividend payout ratio is currently -73.44%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in 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 stock a "sector outperform" rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada lifted their target price 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. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, West Fraser Timber currently has a consensus rating of "Buy" and a consensus price target of $111.60.

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.