Connor Clark & Lunn Investment Management Ltd. Has $1.24 Million Position in West Fraser Timber Co. Ltd. $WFG

Key Points

• Connor Clark & Lunn Investment Management Ltd. drastically cut its stake in West Fraser Timber by selling 301,147 shares, bringing their total holdings to just 16,100 shares, valued at approximately $1.24 million.
• Multiple institutional investors adjusted their positions in West Fraser Timber, with notable increases from Deutsche Bank AG (202.1% increase) and Maryland State Retirement & Pension System (3.9% increase).
• West Fraser Timber's stock recently reported a quarterly loss of ($0.38) earnings per share, missing analysts' expectations, and has received mixed ratings from analysts with an average consensus of a "Moderate Buy".

Connor Clark & Lunn Investment Management Ltd. lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 94.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,100 shares of the company's stock after selling 301,147 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in West Fraser Timber were worth $1,237,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. Royal Bank of Canada boosted its stake in shares of West Fraser Timber by 0.3% during the 4th quarter. Royal Bank of Canada now owns 2,980,619 shares of the company's stock worth $257,974,000 after acquiring an additional 8,760 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of West Fraser Timber by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 2,876,409 shares of the company's stock worth $220,931,000 after acquiring an additional 29,746 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in West Fraser Timber by 56.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock worth $187,126,000 after acquiring an additional 780,313 shares during the period. Manning & Napier Advisors LLC raised its holdings in West Fraser Timber by 2.7% in the 1st quarter. Manning & Napier Advisors LLC now owns 875,815 shares of the company's stock worth $67,385,000 after acquiring an additional 22,777 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. raised its holdings in West Fraser Timber by 1.2% in the 4th quarter. Van Lanschot Kempen Investment Management N.V. now owns 639,803 shares of the company's stock worth $55,375,000 after acquiring an additional 7,712 shares during the period. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Stock Performance

Shares of WFG traded down $1.7480 during trading hours on Wednesday, reaching $72.1720. 86,305 shares of the company traded hands, compared to its average volume of 203,547. The stock's fifty day moving average is $73.76 and its 200 day moving average is $75.49. The stock has a market cap of $5.54 billion, a P/E ratio of -41.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.61 and a current ratio of 2.89. West Fraser Timber Co. Ltd. has a 1-year low of $68.63 and a 1-year high of $102.40.

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

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 14th. Stockholders of record on Thursday, June 26th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Thursday, June 26th. West Fraser Timber's payout ratio is -73.14%.

Analyst Ratings Changes

Several research analysts recently commented on WFG shares. TD Securities dropped their target price on shares of West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Wall Street Zen downgraded shares of West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. Finally, Royal Bank Of Canada dropped their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $100.00.

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.