DekaBank Deutsche Girozentrale Sells 251 Shares of West Fraser Timber Co. Ltd. $WFG

DekaBank Deutsche Girozentrale lessened its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 34,466 shares of the company’s stock after selling 251 shares during the period. DekaBank Deutsche Girozentrale’s holdings in West Fraser Timber were worth $2,523,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFG. Ameritas Advisory Services LLC acquired a new stake in shares of West Fraser Timber during the 2nd quarter worth $27,000. Parallel Advisors LLC lifted 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 acquiring an additional 289 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in West Fraser Timber by 6.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 2,806 shares of the company’s stock valued at $216,000 after purchasing an additional 181 shares during the last quarter. Gulf International Bank UK Ltd raised its position in West Fraser Timber by 1,396.5% in the first quarter. Gulf International Bank UK Ltd now owns 2,993 shares of the company’s stock valued at $230,000 after purchasing an additional 2,793 shares during the last quarter. Finally, Diversify Advisory Services LLC bought a new position in shares of West Fraser Timber during the first quarter worth about $251,000. 40.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Friday, September 26th. Royal Bank Of Canada cut their price objective on West Fraser Timber from $92.00 to $91.00 and set an “outperform” rating on the stock in a research report on Monday, October 20th. Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a research note on Friday. Raymond James Financial decreased their price objective on West Fraser Timber from $75.00 to $70.00 and set a “market perform” rating on the stock in a research note on Wednesday, October 15th. Finally, TD Securities reduced their target price on West Fraser Timber from $90.00 to $88.00 and set a “buy” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, West Fraser Timber presently has a consensus rating of “Hold” and an average target price of $87.25.

West Fraser Timber Stock Performance

Shares of WFG stock opened at $65.75 on Friday. The business has a 50-day moving average of $70.83 and a 200 day moving average of $72.91. The stock has a market capitalization of $5.19 billion, a PE ratio of -19.63 and a beta of 1.13. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.39 and a quick ratio of 1.61. West Fraser Timber Co. Ltd. has a 1-year low of $63.73 and a 1-year high of $100.33.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, October 22nd. The company reported ($2.63) EPS for the quarter, missing analysts’ consensus estimates of ($1.72) by ($0.91). The business had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.38 billion. West Fraser Timber had a negative net margin of 4.35% and a negative return on equity of 2.63%. As a group, sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 14th. Stockholders of record on Thursday, September 25th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, September 25th. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. West Fraser Timber’s dividend payout ratio is currently -38.21%.

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.