West Fraser Timber Co. Ltd. $WFG Stock Position Decreased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 87.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,048 shares of the company’s stock after selling 7,618 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in West Fraser Timber were worth $71,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of WFG. Physician Wealth Advisors Inc. raised its holdings in West Fraser Timber by 75.8% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 552 shares of the company’s stock worth $38,000 after buying an additional 238 shares during the period. Jones Financial Companies Lllp raised its holdings in shares of West Fraser Timber by 212.0% during the third quarter. Jones Financial Companies Lllp now owns 780 shares of the company’s stock valued at $52,000 after acquiring an additional 530 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of West Fraser Timber by 346.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,090 shares of the company’s stock valued at $153,000 after acquiring an additional 1,622 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its position in West Fraser Timber by 5.4% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 3,874 shares of the company’s stock worth $263,000 after purchasing an additional 200 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of West Fraser Timber by 29.8% in the second quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock worth $291,000 after buying an additional 912 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Trading Down 6.3%

West Fraser Timber stock opened at $67.19 on Monday. West Fraser Timber Co. Ltd. has a one year low of $57.34 and a one year high of $80.73. The company’s fifty day moving average price is $67.30 and its two-hundred day moving average price is $67.17. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.13 and a quick ratio of 0.86. The company has a market capitalization of $5.11 billion, a price-to-earnings ratio of -5.52 and a beta of 1.12.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, February 11th. The company reported ($2.42) earnings per share (EPS) for the quarter, topping the consensus estimate of ($2.71) by $0.29. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. West Fraser Timber had a negative return on equity of 5.69% and a negative net margin of 17.15%. On average, 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 business also recently announced a quarterly dividend, which will be paid on Thursday, April 2nd. Shareholders of record on Friday, March 13th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.28 dividend on an annualized basis and a yield of 1.9%. West Fraser Timber’s dividend payout ratio is presently -10.51%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on WFG shares. Zacks Research downgraded West Fraser Timber from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Canadian Imperial Bank of Commerce 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 upgraded shares of West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 price objective on the stock in a research note on Wednesday, January 14th. Royal Bank Of Canada decreased their target price on shares of West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of West Fraser Timber in a report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $82.67.

West Fraser Timber Company Profile

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.