Intact Investment Management Inc. Cuts Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Intact Investment Management Inc. trimmed its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 53.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,200 shares of the company's stock after selling 23,500 shares during the quarter. Intact Investment Management Inc.'s holdings in West Fraser Timber were worth $1,968,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Place Capital Corp acquired a new stake in West Fraser Timber in the second quarter valued at $31,000. Signaturefd LLC grew 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 valued at $38,000 after buying an additional 186 shares during the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of West Fraser Timber in the second quarter valued at about $44,000. UniSuper Management Pty Ltd raised its position in shares of West Fraser Timber by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock worth $69,000 after acquiring an additional 400 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company's stock worth $125,000 after acquiring an additional 582 shares during the period. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Trading Up 1.0 %

NYSE WFG traded up $0.96 on Tuesday, hitting $93.11. 112,601 shares of the company were exchanged, compared to its average volume of 160,393. The company has a market cap of $7.47 billion, a PE ratio of -72.54 and a beta of 1.18. The stock has a fifty day moving average of $93.86 and a 200-day moving average of $85.15. West Fraser Timber Co. Ltd. has a 12 month low of $71.80 and a 12 month high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) EPS 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 negative net margin of 1.53% and a positive return on equity of 0.53%. During the same quarter in the prior year, the firm earned $1.81 EPS. On average, analysts expect that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Thursday, September 26th. West Fraser Timber's payout ratio is currently -74.22%.

Analyst Ratings Changes

Several research analysts have issued reports on WFG shares. BMO Capital Markets raised their price target 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. Scotiabank lifted their target price 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 upped their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $111.60.

About West Fraser Timber

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.