Wellington Management Group LLP lessened its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 85.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,880 shares of the company's stock after selling 16,993 shares during the period. Wellington Management Group LLP's holdings in West Fraser Timber were worth $281,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Smead Capital Management Inc. increased its stake in shares of West Fraser Timber by 5.1% in the 3rd quarter. Smead Capital Management Inc. now owns 118,108 shares of the company's stock worth $11,507,000 after acquiring an additional 5,743 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of West Fraser Timber during the second quarter valued at approximately $1,862,000. Janus Henderson Group PLC boosted its position in shares of West Fraser Timber by 383.7% in the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company's stock worth $7,296,000 after purchasing an additional 59,347 shares in the last quarter. Cerity Partners LLC increased its position in West Fraser Timber by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 247,400 shares of the company's stock valued at $24,087,000 after buying an additional 138,871 shares in the last quarter. Finally, Pacifica Partners Inc. raised its stake in West Fraser Timber by 816.2% during the third quarter. Pacifica Partners Inc. now owns 13,386 shares of the company's stock valued at $1,306,000 after buying an additional 11,925 shares during the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.
West Fraser Timber Price Performance
Shares of WFG stock traded up $0.93 during mid-day trading on Friday, hitting $85.58. The company had a trading volume of 151,447 shares, compared to its average volume of 157,757. The company has a market capitalization of $6.87 billion, a P/E ratio of -66.86 and a beta of 1.19. The stock's 50 day moving average price is $93.72 and its 200-day moving average price is $88.26. West Fraser Timber Co. Ltd. has a 52-week low of $73.91 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) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.87). The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same period in the previous year, the business posted $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 Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 27th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.50%. This is an increase from West Fraser Timber's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, December 27th. West Fraser Timber's dividend payout ratio is presently -73.44%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the company. 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. BMO Capital Markets upped their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock 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 given a strong buy rating to the company. According to MarketBeat, West Fraser Timber currently has a consensus rating of "Buy" and a consensus target price of $111.60.
View Our Latest Report on WFG
West Fraser Timber Company Profile
(
Free Report)
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.
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