West Fraser Timber Co. Ltd. $WFG Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 42.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,438 shares of the company’s stock after selling 2,504 shares during the quarter. Ritholtz Wealth Management’s holdings in West Fraser Timber were worth $252,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WFG. Deutsche Bank AG lifted its position in West Fraser Timber by 202.1% in the first quarter. Deutsche Bank AG now owns 395,101 shares of the company’s stock valued at $30,399,000 after buying an additional 264,322 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in West Fraser Timber by 10.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,394,607 shares of the company’s stock valued at $184,242,000 after buying an additional 232,558 shares during the last quarter. Genus Capital Management Inc. lifted its position in West Fraser Timber by 202.9% in the first quarter. Genus Capital Management Inc. now owns 84,374 shares of the company’s stock valued at $6,480,000 after buying an additional 166,386 shares during the last quarter. 1832 Asset Management L.P. lifted its position in West Fraser Timber by 5.0% in the first quarter. 1832 Asset Management L.P. now owns 1,425,094 shares of the company’s stock valued at $109,647,000 after buying an additional 68,016 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of West Fraser Timber during the first quarter worth about $5,104,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analysts Set New Price Targets

WFG has been the subject of several recent research reports. 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. Royal Bank Of Canada lowered their price objective on shares of West Fraser Timber from $97.00 to $92.00 and set an “outperform” rating for the company in a research note on Monday. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of West Fraser Timber from a “hold” rating to a “sell” rating in a research note on Friday, July 18th. Finally, Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $89.50.

West Fraser Timber Stock Up 1.8%

Shares of NYSE:WFG opened at $66.92 on Wednesday. The firm’s 50 day moving average price is $71.36 and its 200 day moving average price is $73.00. The stock has a market cap of $5.28 billion, a price-to-earnings ratio of -38.24 and a beta of 1.13. West Fraser Timber Co. Ltd. has a fifty-two week low of $65.45 and a fifty-two week high of $100.33. The company has a quick ratio of 1.61, a current ratio of 2.89 and a debt-to-equity ratio of 0.04.

West Fraser Timber (NYSE:WFG) last issued its 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). The firm had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.61 billion. West Fraser Timber had a negative net margin of 2.18% and a negative return on equity of 0.85%. As a group, equities research analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 14th. Shareholders of record on Thursday, September 25th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, September 25th. West Fraser Timber’s dividend payout ratio is currently -73.14%.

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.