Banco Bilbao Vizcaya Argentaria S.A. Trims Position in West Fraser Timber Co. Ltd. $WFG

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in West Fraser Timber Co. Ltd. by 42.3% in the first quarter, leaving them with 30,367 shares valued at approximately $2.33 million.
• Several institutional investors have recently made significant changes to their positions in West Fraser, with LPL Financial LLC increasing its stake by 46.6% during the last quarter.
• The stock has received varying analyst ratings, with TD Securities lowering its price target from $98 to $96 while maintaining a buy rating, and Wall Street Zen downgrading to a sell.

Banco Bilbao Vizcaya Argentaria S.A. lowered its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 42.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,367 shares of the company's stock after selling 22,306 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in West Fraser Timber were worth $2,332,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WFG. Allianz Asset Management GmbH boosted its stake in shares of West Fraser Timber by 10.4% during the 1st quarter. Allianz Asset Management GmbH now owns 126,605 shares of the company's stock worth $9,723,000 after acquiring an additional 11,924 shares during the period. Principal Financial Group Inc. boosted its stake in West Fraser Timber by 33.3% in the 1st quarter. Principal Financial Group Inc. now owns 16,263 shares of the company's stock valued at $1,249,000 after purchasing an additional 4,061 shares during the period. Intact Investment Management Inc. boosted its stake in West Fraser Timber by 18.3% in the 1st quarter. Intact Investment Management Inc. now owns 23,900 shares of the company's stock valued at $1,836,000 after purchasing an additional 3,700 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in West Fraser Timber by 6.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock valued at $216,000 after purchasing an additional 181 shares during the period. Finally, Cetera Investment Advisers raised its holdings in West Fraser Timber by 134.2% in the 1st quarter. Cetera Investment Advisers now owns 7,159 shares of the company's stock valued at $550,000 after acquiring an additional 4,102 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Price Performance

WFG stock traded up $3.4440 during mid-day trading on Friday, hitting $75.9040. 272,206 shares of the stock were exchanged, compared to its average volume of 210,746. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.89 and a quick ratio of 1.61. The business has a fifty day moving average price of $73.58 and a 200 day moving average price of $75.18. West Fraser Timber Co. Ltd. has a 12 month low of $68.63 and a 12 month high of $102.40. The stock has a market capitalization of $5.82 billion, a price-to-earnings ratio of -43.37 and a beta of 1.15.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.74). West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%.The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. On average, sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders of record on Thursday, June 26th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Thursday, June 26th. West Fraser Timber's payout ratio is -73.14%.

Analysts Set New Price Targets

A number of research firms have recently commented on WFG. Wall Street Zen cut West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday, July 18th. TD Securities reduced their price target on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, July 25th. Finally, Raymond James Financial restated a "market perform" rating on shares of West Fraser Timber in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

About West Fraser Timber

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.