Toronto Dominion Bank Sells 10,182 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Toronto Dominion Bank cut its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 33.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,858 shares of the company's stock after selling 10,182 shares during the quarter. Toronto Dominion Bank's holdings in West Fraser Timber were worth $1,933,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. acquired a new position in shares of West Fraser Timber during the 2nd quarter worth approximately $368,000. Assenagon Asset Management S.A. boosted its position in West Fraser Timber by 19.2% in the second quarter. Assenagon Asset Management S.A. now owns 34,052 shares of the company's stock valued at $2,615,000 after buying an additional 5,495 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. increased its holdings in shares of West Fraser Timber by 15.2% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 692,453 shares of the company's stock worth $53,229,000 after buying an additional 91,490 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of West Fraser Timber by 11.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 53,931 shares of the company's stock valued at $4,146,000 after acquiring an additional 5,644 shares during the last quarter. Finally, Galibier Capital Management Ltd. grew its holdings in shares of West Fraser Timber by 152.3% during the second quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company's stock worth $21,474,000 after purchasing an additional 168,802 shares during the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Performance

Shares of NYSE WFG traded down $1.55 during midday trading on Monday, hitting $87.94. 191,726 shares of the stock traded hands, compared to its average volume of 158,122. West Fraser Timber Co. Ltd. has a one year low of $73.91 and a one year high of $102.40. The business has a 50 day moving average price of $95.05 and a two-hundred day moving average price of $88.14. The company has a market cap of $7.06 billion, a PE ratio of -69.91 and a beta of 1.19.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) 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 the consensus estimate of $1.45 billion. During the same quarter last year, the firm posted $1.81 EPS. As a group, equities research analysts forecast 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 declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 27th will be given a $0.32 dividend. This is a boost from West Fraser Timber's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.28 annualized dividend and a yield of 1.46%. West Fraser Timber's dividend payout ratio (DPR) is presently -74.22%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Scotiabank upped their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a "sector outperform" rating in a research report on Friday, October 25th. 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 report on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price 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.