West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 85.5% in the third quarter, according to its most recent disclosure 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans acquired a new stake in shares of West Fraser Timber during the 2nd quarter worth approximately $52,645,000. FMR LLC grew its position in West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company's stock valued at $141,047,000 after buying an additional 266,298 shares during the period. Van ECK Associates Corp increased its holdings in West Fraser Timber by 4,057.8% in the third quarter. Van ECK Associates Corp now owns 193,752 shares of the company's stock valued at $18,321,000 after buying an additional 189,092 shares in the last quarter. Galibier Capital Management Ltd. raised its position in shares of West Fraser Timber by 152.3% in the second quarter. Galibier Capital Management Ltd. now owns 279,655 shares of the company's stock worth $21,474,000 after acquiring an additional 168,802 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake 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 worth $76,053,000 after acquiring an additional 153,600 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WFG has been the subject of a number of recent analyst reports. Scotiabank boosted their price objective 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 boosted their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $111.60.

West Fraser Timber Stock Performance

Shares of NYSE WFG traded up $0.93 during trading on Friday, hitting $85.58. 151,447 shares of the company were exchanged, compared to its average volume of 157,757. The company has a fifty day moving average price of $93.72 and a 200-day moving average price of $88.26. The firm has a market capitalization of $6.87 billion, a PE ratio of -66.86 and a beta of 1.19. West Fraser Timber Co. Ltd. has a 12-month low of $73.91 and a 12-month high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly 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). The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations 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 firm posted $1.81 EPS. Research analysts anticipate that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. 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. West Fraser Timber's dividend payout ratio is -73.44%.

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.