Quadrature Capital Ltd Sells 73,100 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Quadrature Capital Ltd decreased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 73.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 27,100 shares of the company's stock after selling 73,100 shares during the quarter. Quadrature Capital Ltd's holdings in West Fraser Timber were worth $2,642,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Quantinno Capital Management LP bought a new stake in shares of West Fraser Timber in the third quarter worth about $258,000. Janus Henderson Group PLC increased its holdings in shares of West Fraser Timber by 383.7% in the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company's stock worth $7,296,000 after acquiring an additional 59,347 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of West Fraser Timber by 28.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,066 shares of the company's stock worth $3,713,000 after acquiring an additional 8,372 shares in the last quarter. FMR LLC grew its holdings in shares of West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company's stock worth $141,047,000 after buying an additional 266,298 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of West Fraser Timber by 43.5% during the third quarter. The Manufacturers Life Insurance Company now owns 143,712 shares of the company's stock worth $14,008,000 after buying an additional 43,549 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. BMO Capital Markets increased their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Scotiabank increased their price objective 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. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, West Fraser Timber currently has a consensus rating of "Buy" and a consensus price target of $111.60.

West Fraser Timber Stock Performance

NYSE WFG traded down $1.53 during trading hours on Friday, hitting $93.95. 264,495 shares of the company traded hands, compared to its average volume of 114,687. The business's 50-day moving average is $95.61 and its 200-day moving average is $87.66. West Fraser Timber Co. Ltd. has a twelve month low of $72.56 and a twelve month high of $102.40. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of -73.40 and a beta of 1.19.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the firm posted $1.81 earnings per share. Analysts predict that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were paid a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.01%. West Fraser Timber's dividend payout ratio is currently -74.22%.

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.