Northwest & Ethical Investments L.P. Sells 2,628 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Northwest & Ethical Investments L.P. lessened its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 9.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,931 shares of the company’s stock after selling 2,628 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in West Fraser Timber were worth $2,527,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC lifted its holdings in West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock worth $141,047,000 after acquiring an additional 266,298 shares during the period. 1832 Asset Management L.P. increased its position in West Fraser Timber by 18.4% in the second quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company’s stock worth $76,053,000 after buying an additional 153,600 shares during the last quarter. Thrivent Financial for Lutherans increased its position in West Fraser Timber by 37.1% in the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock worth $91,429,000 after buying an additional 254,220 shares during the last quarter. Van Lanschot Kempen Investment Management N.V. increased its position in West Fraser Timber by 15.2% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 692,453 shares of the company’s stock worth $53,229,000 after buying an additional 91,490 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in West Fraser Timber by 7.5% in the third quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock worth $55,683,000 after buying an additional 39,651 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WFG has been the subject of a number of recent research reports. BMO Capital Markets raised their target price on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank raised their target price 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 investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $111.60.

West Fraser Timber Trading Up 0.8 %

Shares of NYSE WFG opened at $99.00 on Friday. West Fraser Timber Co. Ltd. has a fifty-two week low of $72.35 and a fifty-two week high of $102.40. The stock has a fifty day moving average of $95.64 and a 200-day moving average of $87.04.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The company had revenue of $1.44 billion during 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 quarter last year, the firm posted $1.81 earnings per share. As a group, sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were paid a dividend of $0.237 per share. This represents a $0.95 annualized dividend and a yield of 0.96%. The ex-dividend date was Thursday, September 26th. West Fraser Timber’s dividend payout ratio is -74.22%.

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.