West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,256,300 shares of the company’s stock after selling 45,793 shares during the quarter. Bank of Montreal Can’s holdings in West Fraser Timber were worth $176,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Evergreen Capital Management LLC raised its position in West Fraser Timber by 9.0% in the second quarter. Evergreen Capital Management LLC now owns 6,826 shares of the company’s stock worth $527,000 after acquiring an additional 564 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of West Fraser Timber by 18.4% during the second quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company’s stock valued at $76,053,000 after acquiring an additional 153,600 shares during the last quarter. Ensign Peak Advisors Inc acquired a new stake in West Fraser Timber in the 2nd quarter worth about $44,000. Thrivent Financial for Lutherans acquired a new stake in West Fraser Timber in the 2nd quarter worth about $52,645,000. Finally, Canada Pension Plan Investment Board boosted its stake in West Fraser Timber by 1.9% in the 2nd quarter. Canada Pension Plan Investment Board now owns 236,319 shares of the company’s stock worth $18,146,000 after buying an additional 4,300 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

Shares of NYSE:WFG opened at $94.71 on Tuesday. The business has a 50 day moving average price of $86.66 and a 200 day moving average price of $82.22. West Fraser Timber Co. Ltd. has a twelve month low of $64.11 and a twelve month high of $95.81. The company has a market cap of $7.47 billion, a price-to-earnings ratio of -78.27 and a beta of 1.16. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.29 by ($0.09). The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. West Fraser Timber’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.03) EPS. Research analysts predict that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Thursday, September 26th will be paid a $0.237 dividend. The ex-dividend date is Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.00%. West Fraser Timber’s dividend payout ratio (DPR) is currently -77.69%.

Analysts Set New Price Targets

WFG has been the topic of several analyst reports. Royal Bank of Canada raised their target price on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a 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 stock an “outperform” rating in a research report on Tuesday, July 30th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $105.60.

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.