West Fraser Timber Co. Ltd. $WFG Position Reduced by Robotti Robert

Key Points

• Robotti Robert reduced its stake in West Fraser Timber Co. Ltd. by 10.2%, selling 33,694 shares and now holding 296,958 shares, representing 4.6% of its investment portfolio.
• West Fraser Timber reported a loss of ($0.38) earnings per share for the last quarter, missing analysts' estimates and generating $1.53 billion in revenue.
• The company's stock received mixed ratings, with one sell, one hold, and four buy ratings; analysts have set a consensus price target of $100.00.

Robotti Robert lessened its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 296,958 shares of the company's stock after selling 33,694 shares during the quarter. West Fraser Timber accounts for approximately 4.6% of Robotti Robert's investment portfolio, making the stock its 5th biggest holding. Robotti Robert owned 0.38% of West Fraser Timber worth $22,848,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in WFG. Gulf International Bank UK Ltd raised its position in shares of West Fraser Timber by 1,396.5% in the first quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company's stock valued at $230,000 after purchasing an additional 2,793 shares during the period. Nuveen LLC bought a new position in West Fraser Timber in the 1st quarter valued at about $5,104,000. Aigen Investment Management LP boosted its stake in shares of West Fraser Timber by 41.6% in the 1st quarter. Aigen Investment Management LP now owns 13,634 shares of the company's stock valued at $1,049,000 after purchasing an additional 4,006 shares in the last quarter. Invesco Ltd. boosted its stake in shares of West Fraser Timber by 44.5% in the 1st quarter. Invesco Ltd. now owns 112,431 shares of the company's stock valued at $8,650,000 after purchasing an additional 34,599 shares in the last quarter. Finally, Maryland State Retirement & Pension System boosted its stake in shares of West Fraser Timber by 3.9% in the 1st quarter. Maryland State Retirement & Pension System now owns 37,332 shares of the company's stock valued at $2,867,000 after purchasing an additional 1,385 shares in the last quarter. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Stock Down 1.2%

WFG traded down $0.90 during mid-day trading on Monday, reaching $73.55. 149,051 shares of the stock were exchanged, compared to its average volume of 204,292. 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 $5.64 billion, a PE ratio of -42.03 and a beta of 1.15. The company has a 50 day moving average price of $73.87 and a two-hundred day moving average price of $75.59. 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 issued its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.74). The company had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. As a group, research 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. Investors of record on Thursday, June 26th were 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 of this dividend was Thursday, June 26th. West Fraser Timber's payout ratio is -73.14%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WFG shares. Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. Royal Bank Of Canada lowered their price objective on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. TD Securities lowered 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. Finally, Wall Street Zen lowered shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.