XTX Topco Ltd Sells 7,011 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

XTX Topco Ltd reduced its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 71.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,813 shares of the company’s stock after selling 7,011 shares during the quarter. XTX Topco Ltd’s holdings in West Fraser Timber were worth $274,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WFG. Signaturefd LLC lifted its stake in shares of West Fraser Timber by 60.0% in the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after buying an additional 186 shares in the last quarter. Ensign Peak Advisors Inc purchased a new position in West Fraser Timber during the second quarter worth about $44,000. US Bancorp DE increased its stake in West Fraser Timber by 82.9% in the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after buying an additional 582 shares during the last quarter. D.B. Root & Company LLC bought a new position in shares of West Fraser Timber during the 3rd quarter worth approximately $223,000. Finally, Quantinno Capital Management LP bought a new position in shares of West Fraser Timber during the 3rd quarter worth approximately $258,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Down 3.5 %

NYSE WFG opened at $84.81 on Thursday. The company’s 50 day moving average is $94.35 and its 200-day moving average is $88.24. The firm has a market cap of $6.81 billion, a P/E ratio of -66.26 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.

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

West Fraser Timber Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders 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 a boost from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 1.51%. West Fraser Timber’s dividend payout ratio is currently -73.44%.

Analyst Upgrades and Downgrades

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

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.