TD Asset Management Inc Sells 154,453 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

TD Asset Management Inc reduced its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 46.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 175,377 shares of the company's stock after selling 154,453 shares during the quarter. TD Asset Management Inc owned about 0.23% of West Fraser Timber worth $13,468,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of WFG. Cetera Investment Advisers lifted its holdings in shares of West Fraser Timber by 134.2% during the 1st 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. Avantax Advisory Services Inc. boosted its stake in West Fraser Timber by 22.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,667 shares of the company's stock valued at $282,000 after acquiring an additional 665 shares during the last quarter. Allianz Asset Management GmbH grew its position 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 acquiring an additional 11,924 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of West Fraser Timber during the first quarter worth $1,476,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of West Fraser Timber during the 1st quarter worth approximately $251,000. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Price Performance

Shares of NYSE:WFG traded up $0.44 during trading on Friday, hitting $69.75. 282,595 shares of the company's stock traded hands, compared to its average volume of 227,953. The company has a current ratio of 2.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $74.22 and a 200-day moving average price of $77.09. West Fraser Timber Co. Ltd. has a 52 week low of $68.63 and a 52 week 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 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 for the quarter, compared to the consensus estimate of $1.61 billion. Equities analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada reduced their price objective on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. TD Securities dropped their price target on 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. Raymond James Financial reiterated a "market perform" rating on shares of West Fraser Timber in a report on Monday, July 21st. Finally, Wall Street Zen downgraded shares of West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target 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.