West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 85.5% in the 3rd quarter, Holdings Channel reports. The firm owned 2,880 shares of the company’s stock after selling 16,993 shares during the quarter. Wellington Management Group LLP’s holdings in West Fraser Timber were worth $281,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Signaturefd LLC boosted its stake in shares of West Fraser Timber by 60.0% during 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 acquired a new position in West Fraser Timber during the second quarter worth $44,000. US Bancorp DE grew its holdings in West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after purchasing an additional 582 shares during the last quarter. D.B. Root & Company LLC purchased a new position in shares of West Fraser Timber in the third quarter valued at $223,000. Finally, Quantinno Capital Management LP acquired a new position in shares of West Fraser Timber during the 3rd quarter worth $258,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $85.58 on Friday. The stock has a market capitalization of $6.87 billion, a P/E ratio of -66.86 and a beta of 1.19. West Fraser Timber Co. Ltd. has a 12-month low of $73.91 and a 12-month high of $102.40. The firm’s 50-day moving average is $93.72 and its two-hundred day moving average is $88.26.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm posted $1.81 earnings per share. As a group, analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 27th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, December 27th. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a yield of 1.50%. West Fraser Timber’s dividend payout ratio is -73.44%.

Analyst Upgrades and Downgrades

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

West Fraser Timber 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.