Addenda Capital Inc. Sells 1,010 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Addenda Capital Inc. lowered its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 26.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,780 shares of the company’s stock after selling 1,010 shares during the period. Addenda Capital Inc.’s holdings in West Fraser Timber were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Park Place Capital Corp bought a new stake in shares of West Fraser Timber during the second quarter valued at approximately $31,000. Bfsg LLC bought a new stake in shares of West Fraser Timber during the fourth quarter valued at approximately $42,000. Accordant Advisory Group Inc bought a new stake in shares of West Fraser Timber during the first quarter valued at approximately $43,000. ICA Group Wealth Management LLC purchased a new position in shares of West Fraser Timber in the fourth quarter valued at $43,000. Finally, UniSuper Management Pty Ltd grew its holdings in shares of 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 purchasing an additional 400 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

WFG has been the subject of a number of recent research reports. TD Securities raised their target price on shares of West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada raised 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. Finally, BMO Capital Markets raised their target price on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $106.50.

West Fraser Timber Trading Down 2.3 %

NYSE WFG traded down $2.00 on Wednesday, hitting $84.80. 118,843 shares of the stock were exchanged, compared to its average volume of 167,961. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33. The stock has a fifty day moving average price of $80.05 and a two-hundred day moving average price of $80.30. The firm has a market capitalization of $6.69 billion, a P/E ratio of -71.71 and a beta of 1.16. West Fraser Timber Co. Ltd. has a 52-week low of $64.11 and a 52-week high of $89.97.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing the consensus estimate of $1.29 by ($0.09). The firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.03) earnings per share. Research analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 26th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Wednesday, June 26th. West Fraser Timber’s dividend payout ratio is currently -105.79%.

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.