West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC lifted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 37.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,978 shares of the company’s stock after purchasing an additional 5,686 shares during the period. Metis Global Partners LLC’s holdings in West Fraser Timber were worth $2,044,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WFG. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in West Fraser Timber by 27.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company’s stock worth $320,000 after acquiring an additional 802 shares during the last quarter. Chesapeake Capital Corp IL purchased a new stake in shares of West Fraser Timber during the 1st quarter worth approximately $358,000. Intech Investment Management LLC purchased a new stake in shares of West Fraser Timber during the 1st quarter worth approximately $469,000. UniSuper Management Pty Ltd lifted its position in shares of West Fraser Timber by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after buying an additional 400 shares during the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of West Fraser Timber by 9.4% during the 1st quarter. Toronto Dominion Bank now owns 29,915 shares of the company’s stock worth $2,586,000 after buying an additional 2,562 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on WFG shares. Scotiabank upped their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. Royal Bank of Canada upped their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, BMO Capital Markets upped their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $111.60.

West Fraser Timber Price Performance

Shares of NYSE WFG opened at $91.87 on Friday. West Fraser Timber Co. Ltd. has a 52 week low of $72.35 and a 52 week high of $102.40. The company’s 50-day moving average price is $94.64 and its 200 day moving average price is $85.93.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data 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 negative net margin of 1.53% and a positive return on equity of 0.53%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $1.81 earnings per share. Equities research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 earnings per share 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. Investors of record on Thursday, September 26th were given a $0.237 dividend. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.03%. West Fraser Timber’s dividend payout ratio is presently -74.22%.

West Fraser Timber Company 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.