Wellington Management Group LLP Decreases Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Wellington Management Group LLP trimmed its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 11.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,890 shares of the company’s stock after selling 4,461 shares during the period. Wellington Management Group LLP’s holdings in West Fraser Timber were worth $2,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC acquired a new position in West Fraser Timber in the 4th quarter worth $43,000. SG Americas Securities LLC acquired a new position in West Fraser Timber in the 3rd quarter worth $112,000. Moors & Cabot Inc. lifted its holdings in West Fraser Timber by 8.4% in the 1st quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock worth $208,000 after buying an additional 195 shares in the last quarter. Two Sigma Advisers LP acquired a new position in West Fraser Timber in the 3rd quarter worth $210,000. Finally, Advisor Group Holdings Inc. lifted its holdings in West Fraser Timber by 15.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock worth $217,000 after buying an additional 344 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFG has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $97.00 price objective on shares of West Fraser Timber in a report on Wednesday, February 21st. Raymond James upped their target price on shares of West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research note on Tuesday, February 6th. Finally, Scotiabank set a $100.00 target price on shares of West Fraser Timber and gave the company an “outperform” rating in a research note on Monday, January 22nd. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $104.92.

West Fraser Timber Stock Performance

Shares of West Fraser Timber stock opened at $86.78 on Thursday. The firm has a market cap of $6.89 billion, a PE ratio of -40.36 and a beta of 1.14. The firm’s 50-day simple moving average is $80.91 and its 200-day simple moving average is $77.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.45 and a current ratio of 2.26. West Fraser Timber Co. Ltd. has a 1 year low of $64.11 and a 1 year high of $90.17.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.05. The firm had revenue of $1.51 billion for the quarter. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 3.66 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Investors of record on Friday, March 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 1.38%. West Fraser Timber’s dividend payout ratio (DPR) is -27.91%.

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.