Cubist Systematic Strategies LLC Reduces Stock Holdings in West Fraser Timber Co. Ltd. $WFG

Key Points

• Cubist Systematic Strategies LLC reduced its stake in West Fraser Timber Co. Ltd. by 29.7%, now holding shares worth approximately $1.04 million after selling 5,693 shares in the first quarter.
• West Fraser Timber recently reported a loss of $0.38 earnings per share for the last quarter, missing estimates by a significant margin, and had total revenues of $1.53 billion, below expectations of $1.61 billion.
• The company has announced a quarterly dividend of $0.32 per share, which represents a 1.7% dividend yield for shareholders, despite a negative payout ratio of -73.14%.

Cubist Systematic Strategies LLC lessened its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 29.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,504 shares of the company's stock after selling 5,693 shares during the quarter. Cubist Systematic Strategies LLC's holdings in West Fraser Timber were worth $1,039,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Allianz Asset Management GmbH grew its stake in shares of West Fraser Timber by 10.4% in the 1st quarter. Allianz Asset Management GmbH now owns 126,605 shares of the company's stock worth $9,723,000 after buying an additional 11,924 shares in the last quarter. Principal Financial Group Inc. grew its position in West Fraser Timber by 33.3% in the first quarter. Principal Financial Group Inc. now owns 16,263 shares of the company's stock worth $1,249,000 after acquiring an additional 4,061 shares in the last quarter. Invesco Ltd. increased its stake in West Fraser Timber by 44.5% during the first quarter. Invesco Ltd. now owns 112,431 shares of the company's stock worth $8,650,000 after acquiring an additional 34,599 shares during the last quarter. Intact Investment Management Inc. raised its position in West Fraser Timber by 18.3% during the first 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. Finally, Cetera Investment Advisers lifted its stake in shares of 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 purchasing an additional 4,102 shares during the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 1.6%

WFG traded down $1.24 during trading on Friday, hitting $75.49. 142,285 shares of the stock were exchanged, compared to its average volume of 254,469. West Fraser Timber Co. Ltd. has a 1 year low of $68.63 and a 1 year high of $102.40. The firm has a market cap of $5.78 billion, a price-to-earnings ratio of -43.14 and a beta of 1.15. The firm has a 50 day simple moving average of $73.38 and a 200 day simple moving average of $74.48. 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 (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) EPS for the quarter, missing the consensus estimate 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 analysts' expectations of $1.61 billion. As a group, equities analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 14th. Stockholders of record on Thursday, September 25th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Thursday, September 25th. West Fraser Timber's dividend payout ratio (DPR) is currently -73.14%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. TD Securities reduced their price objective on shares of 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 reissued a "market perform" rating on shares of West Fraser Timber in a research note 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's stock. Based on data from MarketBeat.com, West Fraser Timber has a consensus rating of "Moderate Buy" and a consensus target price of $100.00.

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.