West Fraser Timber Co. Ltd. (NYSE:WFG) Stock Holdings Decreased by AGF Management Ltd.

AGF Management Ltd. lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 5.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 100,081 shares of the company’s stock after selling 6,133 shares during the period. AGF Management Ltd. owned 0.12% of West Fraser Timber worth $8,598,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Norges Bank acquired a new position in West Fraser Timber during the 4th quarter valued at about $116,809,000. FMR LLC lifted its position in West Fraser Timber by 267.0% in the 1st quarter. FMR LLC now owns 759,234 shares of the company’s stock worth $54,155,000 after buying an additional 552,378 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in West Fraser Timber by 124.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 696,637 shares of the company’s stock worth $49,630,000 after buying an additional 386,371 shares in the last quarter. Goldentree Asset Management LP purchased a new stake in West Fraser Timber in the 1st quarter worth approximately $23,418,000. Finally, Millennium Management LLC raised its holdings in shares of West Fraser Timber by 181.4% during the 4th quarter. Millennium Management LLC now owns 399,939 shares of the company’s stock valued at $28,897,000 after purchasing an additional 257,798 shares in the last quarter. Institutional investors own 46.23% of the company’s stock.

West Fraser Timber Stock Performance

NYSE WFG opened at $76.11 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.51 and a quick ratio of 2.47. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of -53.98 and a beta of 1.15. The company’s fifty day moving average is $70.40 and its two-hundred day moving average is $75.78. West Fraser Timber Co. Ltd. has a 52-week low of $64.11 and a 52-week high of $91.44.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, October 25th. The company reported $1.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.91. West Fraser Timber had a negative net margin of 1.65% and a positive return on equity of 0.28%. The company had revenue of $1.71 billion for the quarter. Equities research analysts forecast that West Fraser Timber Co. Ltd. will post -0.39 EPS for the current year.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Wednesday, September 27th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, September 26th. This represents a $1.20 annualized dividend and a dividend yield of 1.58%. West Fraser Timber’s dividend payout ratio (DPR) is currently -85.11%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Credit Suisse Group raised their price target on shares of West Fraser Timber from $106.50 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, August 23rd. Raymond James lowered their target price on shares of West Fraser Timber from $125.00 to $110.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 20th. Royal Bank of Canada lowered their target price on shares of West Fraser Timber from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, October 30th. TheStreet upgraded shares of West Fraser Timber from a “d+” rating to a “c” rating in a research note on Friday, October 27th. Finally, CSFB raised their target price on shares of West Fraser Timber from $106.50 to $108.50 and gave the company an “outperform” rating in a research note on Wednesday, August 23rd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $106.50.

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 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.