DekaBank Deutsche Girozentrale Increases Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

DekaBank Deutsche Girozentrale boosted its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 1.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,466 shares of the company’s stock after purchasing an additional 532 shares during the period. DekaBank Deutsche Girozentrale’s holdings in West Fraser Timber were worth $3,285,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC purchased a new position in West Fraser Timber in the third quarter worth about $12,370,000. Signaturefd LLC increased its stake in West Fraser Timber by 77.4% in the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock worth $86,000 after acquiring an additional 384 shares during the last quarter. Vontobel Holding Ltd. increased its stake in West Fraser Timber by 7.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock worth $55,683,000 after acquiring an additional 39,651 shares during the last quarter. Creative Planning boosted its holdings in shares of West Fraser Timber by 69.8% in the 3rd quarter. Creative Planning now owns 7,059 shares of the company’s stock worth $687,000 after purchasing an additional 2,901 shares during the period. Finally, Pacifica Partners Inc. boosted its holdings in shares of West Fraser Timber by 816.2% in the 3rd quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock worth $1,306,000 after purchasing an additional 11,925 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Stock Performance

West Fraser Timber stock opened at $91.97 on Friday. West Fraser Timber Co. Ltd. has a fifty-two week low of $70.70 and a fifty-two week high of $102.40. The company has a market cap of $7.38 billion, a PE ratio of -71.85 and a beta of 1.16. The business’s 50-day simple moving average is $93.83 and its two-hundred day simple moving average is $84.96.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company earned $1.81 EPS. As a group, analysts predict 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. Stockholders of record on Thursday, September 26th were paid a $0.237 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.03%. West Fraser Timber’s payout ratio is -74.22%.

Analyst Upgrades and Downgrades

WFG has been the subject of a number of recent analyst reports. BMO Capital Markets boosted their price objective on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Scotiabank upped their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target on West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target 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.