Quantbot Technologies LP Sells 16,839 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Quantbot Technologies LP lessened its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 82.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,648 shares of the company’s stock after selling 16,839 shares during the period. Quantbot Technologies LP’s holdings in West Fraser Timber were worth $355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFG. Signaturefd LLC increased its holdings in West Fraser Timber by 60.0% in the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of West Fraser Timber in the 2nd quarter valued at approximately $44,000. US Bancorp DE boosted its position in shares of West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after buying an additional 582 shares during the period. Virtu Financial LLC acquired a new position in shares of West Fraser Timber in the first quarter valued at approximately $218,000. Finally, D.B. Root & Company LLC purchased a new stake in shares of West Fraser Timber during the third quarter worth approximately $223,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Trading Up 0.8 %

NYSE WFG opened at $95.01 on Wednesday. West Fraser Timber Co. Ltd. has a 1 year low of $72.56 and a 1 year high of $102.40. The company has a fifty day simple moving average of $95.71 and a 200 day simple moving average of $87.37. The company has a market cap of $7.62 billion, a P/E ratio of -74.23 and a beta of 1.19.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same period in the prior year, the business earned $1.81 EPS. Equities research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.00%. West Fraser Timber’s payout ratio is presently -74.22%.

Analyst Ratings Changes

Several research analysts have weighed in on WFG shares. BMO Capital Markets upped their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank upped their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, West Fraser Timber presently has an average rating of “Buy” and a consensus price target of $111.60.

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.