Credit Agricole S A Sells 23,700 Shares of West Fraser Timber Co. Ltd. $WFG

Key Points

• Credit Agricole S A reduced its stake in West Fraser Timber by 19.9%, selling 23,700 shares and owning 95,491 shares valued at approximately $7.35 million as of the latest quarter.
• Several other institutional investors, including Allianz Asset Management and Principal Financial Group, increased their holdings in West Fraser Timber during the same period.
• West Fraser Timber's recent quarterly earnings report showed a loss of ($0.38) EPS, missing expectations, alongside a revenue of $1.53 billion against an anticipated $1.61 billion.

Credit Agricole S A decreased its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 19.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,491 shares of the company's stock after selling 23,700 shares during the period. Credit Agricole S A owned 0.12% of West Fraser Timber worth $7,347,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of WFG. Point72 Asia Singapore Pte. Ltd. purchased a new position in West Fraser Timber during the fourth quarter valued at approximately $52,000. GAMMA Investing LLC grew its stake in West Fraser Timber by 7,588.9% during the first quarter. GAMMA Investing LLC now owns 692 shares of the company's stock valued at $53,000 after acquiring an additional 683 shares in the last quarter. Natixis grew its stake in West Fraser Timber by 61.8% during the fourth quarter. Natixis now owns 1,605 shares of the company's stock valued at $139,000 after acquiring an additional 613 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in West Fraser Timber by 6.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock valued at $216,000 after acquiring an additional 181 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its stake in West Fraser Timber by 1,396.5% during the first quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company's stock valued at $230,000 after acquiring an additional 2,793 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Down 1.5%

NYSE:WFG traded down $1.13 during midday trading on Wednesday, reaching $73.80. 32,524 shares of the stock traded hands, compared to its average volume of 210,269. The company has a fifty day moving average of $73.63 and a 200 day moving average of $75.11. West Fraser Timber Co. Ltd. has a 12 month low of $68.63 and a 12 month high of $102.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.61 and a current ratio of 2.89. The stock has a market capitalization of $5.66 billion, a P/E ratio of -42.17 and a beta of 1.15.

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

West Fraser Timber Announces Dividend

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

Wall Street Analyst Weigh In

Several brokerages recently commented on WFG. TD Securities reduced their price objective on shares of West Fraser Timber from $98.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, July 25th. Wall Street Zen cut shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Finally, Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. Four research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.