West Fraser Timber Co. Ltd. (NYSE:WFG) Stock Holdings Increased by Jane Street Group LLC

Jane Street Group LLC raised its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 35.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,422 shares of the company’s stock after buying an additional 6,891 shares during the period. Jane Street Group LLC’s holdings in West Fraser Timber were worth $2,574,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in WFG. Signaturefd LLC raised its position in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after purchasing an additional 186 shares during the period. Ensign Peak Advisors Inc acquired a new stake in West Fraser Timber during the 2nd quarter worth about $44,000. US Bancorp DE lifted its stake in West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after buying an additional 582 shares in the last quarter. D.B. Root & Company LLC acquired a new position in shares of West Fraser Timber in the third quarter worth about $223,000. Finally, Quantinno Capital Management LP purchased a new position in shares of West Fraser Timber in the third quarter worth approximately $258,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on WFG shares. BMO Capital Markets lifted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank lifted their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $111.60.

West Fraser Timber Price Performance

Shares of WFG stock opened at $85.58 on Monday. The firm has a market cap of $6.87 billion, a P/E ratio of -66.86 and a beta of 1.19. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The stock’s 50-day moving average is $93.72 and its two-hundred day moving average is $88.34.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. During the same quarter in the prior year, the company posted $1.81 EPS. As a group, research analysts expect that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 27th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s payout ratio is presently -73.44%.

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.