Ritholtz Wealth Management Sells 545 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Ritholtz Wealth Management trimmed its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 8.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,942 shares of the company’s stock after selling 545 shares during the period. Ritholtz Wealth Management’s holdings in West Fraser Timber were worth $457,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. FIL Ltd boosted its holdings in West Fraser Timber by 35.5% during the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock valued at $436,861,000 after acquiring an additional 1,319,843 shares during the period. Royal Bank of Canada boosted its holdings in West Fraser Timber by 0.3% during the fourth quarter. Royal Bank of Canada now owns 2,980,619 shares of the company’s stock valued at $257,974,000 after acquiring an additional 8,760 shares during the period. Vanguard Group Inc. boosted its holdings in West Fraser Timber by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock valued at $246,652,000 after acquiring an additional 12,874 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in West Fraser Timber by 56.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after acquiring an additional 780,313 shares during the period. Finally, Norges Bank bought a new stake in West Fraser Timber during the fourth quarter valued at about $81,605,000. 40.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

WFG has been the subject of a number of recent analyst reports. TD Securities decreased their price target on shares of West Fraser Timber from $99.00 to $98.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Royal Bank Of Canada reduced their target price 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. Wall Street Zen upgraded shares of West Fraser Timber from a “sell” rating to a “hold” rating in a research note on Saturday, June 7th. Finally, Raymond James Financial reduced their target price 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. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, West Fraser Timber currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.40.

West Fraser Timber Stock Performance

NYSE WFG opened at $73.98 on Friday. The stock has a market cap of $5.69 billion, a PE ratio of -435.19 and a beta of 1.17. West Fraser Timber Co. Ltd. has a twelve month low of $69.48 and a twelve month high of $102.40. The firm has a 50-day simple moving average of $74.32 and a 200 day simple moving average of $80.11.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a return on equity of 0.99% and a net margin of 0.03%. Research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Thursday, June 26th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, June 26th. West Fraser Timber’s dividend payout ratio is -752.94%.

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.