Fmr LLC Grows Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

FMR LLC increased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 22.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,447,823 shares of the company's stock after acquiring an additional 266,298 shares during the quarter. FMR LLC owned about 1.80% of West Fraser Timber worth $141,047,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Thrivent Financial for Lutherans bought a new stake in West Fraser Timber in the 2nd quarter valued at $52,645,000. Manning & Napier Advisors LLC bought a new stake in shares of West Fraser Timber during the 2nd quarter valued at $42,886,000. Van ECK Associates Corp lifted its position in shares of West Fraser Timber by 4,057.8% during the 3rd quarter. Van ECK Associates Corp now owns 193,752 shares of the company's stock valued at $18,321,000 after acquiring an additional 189,092 shares during the period. Galibier Capital Management Ltd. lifted its position in shares of West Fraser Timber by 152.3% during the 2nd quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company's stock valued at $21,474,000 after acquiring an additional 168,802 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of West Fraser Timber by 18.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company's stock valued at $76,053,000 after acquiring an additional 153,600 shares during the period. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Performance

Shares of WFG stock traded down $0.20 on Wednesday, hitting $94.81. The company had a trading volume of 60,015 shares, compared to its average volume of 157,315. The stock's 50-day moving average is $95.68 and its two-hundred day moving average is $87.46. West Fraser Timber Co. Ltd. has a twelve month low of $72.56 and a twelve month high of $102.40. The firm has a market cap of $7.61 billion, a P/E ratio of -74.07 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) earnings per share (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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the previous year, the company posted $1.81 EPS. Equities research 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 declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a dividend of $0.237 per share. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Thursday, September 26th. West Fraser Timber's payout ratio is -74.22%.

Analyst Ratings Changes

A number of research firms have recently weighed in on WFG. BMO Capital Markets upped their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Scotiabank upped their price objective on West Fraser Timber from $100.00 to $120.00 and gave the stock a "sector outperform" rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to 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 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.