Envestnet Portfolio Solutions Inc. Sells 474 Shares of West Fraser Timber Co. Ltd. $WFG

Envestnet Portfolio Solutions Inc. lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 13.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,018 shares of the company’s stock after selling 474 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in West Fraser Timber were worth $221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MGO One Seven LLC grew its stake in West Fraser Timber by 2.6% during the second quarter. MGO One Seven LLC now owns 8,868 shares of the company’s stock valued at $650,000 after acquiring an additional 227 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in West Fraser Timber by 27.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 3,674 shares of the company’s stock valued at $269,000 after purchasing an additional 800 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of West Fraser Timber during the 2nd quarter valued at $27,000. Union Bancaire Privee UBP SA increased its holdings in shares of West Fraser Timber by 3.6% in the second quarter. Union Bancaire Privee UBP SA now owns 11,373 shares of the company’s stock worth $844,000 after purchasing an additional 398 shares during the period. Finally, Parallel Advisors LLC increased its holdings in shares of West Fraser Timber by 265.1% in the second quarter. Parallel Advisors LLC now owns 398 shares of the company’s stock worth $29,000 after purchasing an additional 289 shares during the period. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Stock Performance

NYSE:WFG opened at $65.75 on Friday. The firm has a market capitalization of $5.19 billion, a P/E ratio of -19.63 and a beta of 1.13. The company has a quick ratio of 1.61, a current ratio of 2.39 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $70.83 and a 200 day moving average of $72.90. West Fraser Timber Co. Ltd. has a 52 week low of $63.73 and a 52 week high of $100.33.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, October 22nd. The company reported ($2.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.91). The firm had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.38 billion. West Fraser Timber had a negative net margin of 4.35% and a negative return on equity of 2.63%. On average, research analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Investors of record on Thursday, September 25th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 25th. West Fraser Timber’s dividend payout ratio is currently -73.14%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a research note on Friday. Raymond James Financial dropped their price target on West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating for the company in a research report on Wednesday, October 15th. Wall Street Zen lowered West Fraser Timber from a “hold” rating to a “sell” rating in a report on Friday, July 18th. TD Securities lowered their target price on shares of West Fraser Timber from $90.00 to $88.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Royal Bank Of Canada dropped their target price on shares of West Fraser Timber from $92.00 to $91.00 and set an “outperform” rating for the company in a research report on Monday, October 20th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $87.25.

West Fraser Timber 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.