Oppenheimer & Co. Inc. Sells 46,575 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Oppenheimer & Co. Inc. decreased its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 87.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,970 shares of the company's stock after selling 46,575 shares during the period. Oppenheimer & Co. Inc.'s holdings in West Fraser Timber were worth $679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Principal Financial Group Inc. lifted its holdings in West Fraser Timber by 12.4% during the 3rd quarter. Principal Financial Group Inc. now owns 11,974 shares of the company's stock worth $1,168,000 after purchasing an additional 1,323 shares in the last quarter. D.B. Root & Company LLC purchased a new position in shares of West Fraser Timber during the 3rd quarter valued at $223,000. Van ECK Associates Corp raised its position in shares of West Fraser Timber by 4,057.8% in the third quarter. Van ECK Associates Corp now owns 193,752 shares of the company's stock worth $18,321,000 after buying an additional 189,092 shares in the last quarter. US Bancorp DE boosted its stake in West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company's stock valued at $125,000 after buying an additional 582 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its position in West Fraser Timber by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company's stock worth $3,285,000 after buying an additional 532 shares in the last quarter. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Up 1.1 %

Shares of WFG stock traded up $0.98 during mid-day trading on Wednesday, reaching $93.44. The stock had a trading volume of 185,678 shares, compared to its average volume of 158,681. The firm has a market capitalization of $7.50 billion, a PE ratio of -73.00 and a beta of 1.18. The stock's 50-day moving average price is $94.99 and its two-hundred day moving average price is $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 quarterly 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). 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 quarter in the prior year, the firm earned $1.81 EPS. On average, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current 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 paid a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date was Thursday, September 26th. West Fraser Timber's payout ratio is -74.22%.

Wall Street Analyst Weigh In

WFG has been the topic of several recent analyst reports. Scotiabank raised their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a "sector outperform" rating in a report on Friday, October 25th. 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. Finally, BMO Capital Markets boosted their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, West Fraser Timber currently has a consensus rating of "Buy" and a consensus price target of $111.60.

West Fraser Timber 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.