Cubist Systematic Strategies LLC Purchases New Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Cubist Systematic Strategies LLC bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 19,197 shares of the company’s stock, valued at approximately $1,662,000.

A number of other institutional investors and hedge funds have also modified their holdings of WFG. FIL Ltd lifted its stake in West Fraser Timber by 35.5% in the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock valued at $436,861,000 after buying an additional 1,319,843 shares in the last quarter. Vanguard Group Inc. grew its stake in West Fraser Timber by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock worth $246,652,000 after purchasing an additional 12,874 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in West Fraser Timber by 56.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock worth $187,126,000 after purchasing an additional 780,313 shares in the last quarter. Norges Bank bought a new position in West Fraser Timber in the fourth quarter worth about $81,605,000. Finally, Manning & Napier Advisors LLC raised its holdings in shares of West Fraser Timber by 14.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock valued at $73,830,000 after buying an additional 109,447 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Up 1.7%

Shares of NYSE:WFG opened at $75.77 on Tuesday. West Fraser Timber Co. Ltd. has a 12 month low of $69.48 and a 12 month high of $102.40. The company’s fifty day simple moving average is $75.15 and its 200 day simple moving average is $83.74. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of -360.81 and a beta of 1.21.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). The firm had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. Research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber’s payout ratio is presently -752.94%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. TD Securities decreased their price target on shares of West Fraser Timber from $99.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Scotiabank decreased their price objective on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada decreased their price objective on shares of West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James decreased their price objective on shares of West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $100.40.

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.