Intact Investment Management Inc. Sells 13,600 Shares of West Fraser Timber Co. Ltd. $WFG

Intact Investment Management Inc. reduced its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 56.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,300 shares of the company’s stock after selling 13,600 shares during the period. Intact Investment Management Inc.’s holdings in West Fraser Timber were worth $700,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Ameritas Advisory Services LLC bought a new position in shares of West Fraser Timber during the 2nd quarter valued at approximately $27,000. PNC Financial Services Group Inc. boosted its stake in West Fraser Timber by 346.6% during the second quarter. PNC Financial Services Group Inc. now owns 2,090 shares of the company’s stock worth $153,000 after buying an additional 1,622 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in West Fraser Timber by 27.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 3,674 shares of the company’s stock worth $269,000 after buying an additional 800 shares during the period. Sei Investments Co. increased its position in West Fraser Timber by 29.8% during the second quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock valued at $291,000 after acquiring an additional 912 shares during the last quarter. Finally, Bank of Nova Scotia Trust Co. raised its stake in shares of West Fraser Timber by 9.1% in the second quarter. Bank of Nova Scotia Trust Co. now owns 4,009 shares of the company’s stock valued at $294,000 after acquiring an additional 336 shares during the period. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Price Performance

Shares of WFG opened at $72.26 on Tuesday. The firm has a market capitalization of $5.49 billion, a PE ratio of -21.57 and a beta of 1.11. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.39 and a quick ratio of 1.32. The company’s fifty day moving average price is $62.89 and its 200-day moving average price is $67.22. West Fraser Timber Co. Ltd. has a 1-year low of $57.34 and a 1-year high of $91.64.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Investors of record on Monday, December 29th were given a $0.32 dividend. The ex-dividend date was Monday, December 29th. This represents a $1.28 dividend on an annualized basis and a yield of 1.8%. West Fraser Timber’s dividend payout ratio is currently -38.21%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. CIBC lowered shares of West Fraser Timber from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 9th. Raymond James Financial raised West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 target price on the stock in a research note on Wednesday, January 14th. Zacks Research upgraded West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, December 26th. Cibc Captl Mkts cut West Fraser Timber from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Royal Bank Of Canada cut their price objective on West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, December 18th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $87.00.

About West Fraser Timber

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.