Russell Investments Group Ltd. cut its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 9.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,821 shares of the company's stock after selling 5,842 shares during the period. Russell Investments Group Ltd. owned about 0.08% of West Fraser Timber worth $4,512,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Allianz Asset Management GmbH grew its holdings in shares of West Fraser Timber by 10.4% in the first quarter. Allianz Asset Management GmbH now owns 126,605 shares of the company's stock worth $9,723,000 after purchasing an additional 11,924 shares during the last quarter. Principal Financial Group Inc. lifted its stake 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 during the period. Intact Investment Management Inc. lifted its stake in West Fraser Timber by 18.3% in the first quarter. Intact Investment Management Inc. now owns 23,900 shares of the company's stock worth $1,836,000 after acquiring an additional 3,700 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in West Fraser Timber by 6.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company's stock worth $216,000 after acquiring an additional 181 shares during the period. Finally, Cetera Investment Advisers lifted its stake in West Fraser Timber by 134.2% in the first quarter. Cetera Investment Advisers now owns 7,159 shares of the company's stock worth $550,000 after acquiring an additional 4,102 shares during the period. 40.23% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on WFG shares. 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. Wall Street Zen lowered shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research report on Friday, July 18th. Finally, Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a research note on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $100.00.
Check Out Our Latest Research Report on West Fraser Timber
West Fraser Timber Stock Performance
NYSE:WFG traded up $0.41 during midday trading on Thursday, hitting $72.72. The company's stock had a trading volume of 240,803 shares, compared to its average volume of 259,846. West Fraser Timber Co. Ltd. has a fifty-two week low of $68.63 and a fifty-two week high of $102.40. The firm's 50 day moving average is $73.57 and its 200-day moving average is $75.00. 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 firm has a market cap of $5.58 billion, a P/E ratio of -41.55 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 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 business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.61 billion. Equities analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.
West Fraser Timber Announces Dividend
The firm 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 annualized dividend and a yield of 1.8%. The ex-dividend date was Thursday, June 26th. West Fraser Timber's dividend payout ratio is -73.14%.
West Fraser Timber Company Profile
(
Free Report)
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.
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