Barclays PLC Buys 647 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Barclays PLC boosted its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 10.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,119 shares of the company’s stock after purchasing an additional 647 shares during the quarter. Barclays PLC’s holdings in West Fraser Timber were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in WFG. Geode Capital Management LLC grew its position in shares of West Fraser Timber by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 233,128 shares of the company’s stock valued at $22,499,000 after purchasing an additional 14,662 shares in the last quarter. Jane Street Group LLC grew its position in West Fraser Timber by 35.3% during the third quarter. Jane Street Group LLC now owns 26,422 shares of the company’s stock worth $2,574,000 after buying an additional 6,891 shares in the last quarter. Quantinno Capital Management LP bought a new position in West Fraser Timber in the 3rd quarter worth about $258,000. Janus Henderson Group PLC raised its holdings in shares of West Fraser Timber by 383.7% in the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock valued at $7,296,000 after acquiring an additional 59,347 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of West Fraser Timber by 28.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,066 shares of the company’s stock valued at $3,713,000 after acquiring an additional 8,372 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

NYSE:WFG opened at $88.79 on Friday. The company has a market capitalization of $7.13 billion, a price-to-earnings ratio of -69.37 and a beta of 1.22. The business has a 50 day moving average of $90.68 and a 200 day moving average of $89.42. West Fraser Timber Co. Ltd. has a 1-year low of $73.91 and a 1-year high of $102.40.

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

West Fraser Timber Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were paid a dividend of $0.32 per share. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date of this dividend was Friday, December 27th. West Fraser Timber’s dividend payout ratio (DPR) is -100.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank raised their target price on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. BMO Capital Markets increased their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, West Fraser Timber has an average rating of “Buy” and a consensus target price of $111.60.

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.