Versor Investments LP Lowers Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Versor Investments LP cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 52.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,703 shares of the company's stock after selling 8,597 shares during the period. Versor Investments LP's holdings in West Fraser Timber were worth $751,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Park Place Capital Corp purchased a new position in shares of West Fraser Timber during the second quarter worth about $31,000. Signaturefd LLC grew its stake in West Fraser Timber by 60.0% during the 2nd quarter. Signaturefd LLC now owns 496 shares of the company's stock worth $38,000 after buying an additional 186 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in West Fraser Timber during the second quarter worth approximately $44,000. UniSuper Management Pty Ltd lifted its stake in West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock valued at $69,000 after buying an additional 400 shares during the last quarter. Finally, US Bancorp DE lifted its stake in West Fraser Timber by 82.9% in 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 last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. 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. BMO Capital Markets lifted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Finally, Scotiabank increased 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. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $111.60.

West Fraser Timber Stock Performance

Shares of NYSE WFG traded up $0.13 during midday trading on Wednesday, reaching $92.38. 27,766 shares of the company were exchanged, compared to its average volume of 159,202. West Fraser Timber Co. Ltd. has a 1 year low of $72.35 and a 1 year high of $102.40. The stock has a fifty day simple moving average of $94.35 and a 200 day simple moving average of $85.74.

West Fraser Timber (NYSE:WFG - Get Free Report) last released 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 positive return on equity of 0.53% and a negative net margin of 1.53%. The company had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the prior year, the business earned $1.81 EPS. On average, equities research 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were issued a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, September 26th. West Fraser Timber's dividend payout ratio is presently -74.22%.

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.