West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. decreased its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 84.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,687 shares of the company’s stock after selling 148,748 shares during the quarter. Triasima Portfolio Management inc.’s holdings in West Fraser Timber were worth $2,049,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Place Capital Corp purchased a new stake in shares of West Fraser Timber in the 2nd quarter valued at $31,000. Signaturefd LLC lifted its position in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of West Fraser Timber in the fourth quarter valued at approximately $43,000. UniSuper Management Pty Ltd grew its holdings in shares of West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $69,000 after purchasing an additional 400 shares in the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in West Fraser Timber during the 1st quarter worth approximately $103,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada raised their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. BMO Capital Markets lifted their target price on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $105.60.

West Fraser Timber Stock Down 0.7 %

NYSE WFG traded down $0.64 on Friday, hitting $87.32. 97,668 shares of the stock were exchanged, compared to its average volume of 161,478. West Fraser Timber Co. Ltd. has a fifty-two week low of $64.11 and a fifty-two week high of $91.43. The company has a 50-day moving average price of $83.28 and a 200-day moving average price of $81.33. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. The company has a market cap of $6.86 billion, a PE ratio of -72.16 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Wednesday, June 26th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend was Wednesday, June 26th. West Fraser Timber’s dividend payout ratio (DPR) is presently -105.78%.

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.