XTX Topco Ltd Takes $755,000 Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

XTX Topco Ltd purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 9,824 shares of the company’s stock, valued at approximately $755,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC increased its position in shares of West Fraser Timber by 29.3% during the fourth quarter. Hsbc Holdings PLC now owns 268,764 shares of the company’s stock valued at $23,005,000 after buying an additional 60,823 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of West Fraser Timber during the second quarter valued at about $42,886,000. Cumberland Partners Ltd bought a new stake in shares of West Fraser Timber during the first quarter valued at about $1,011,000. GRS Advisors LLC increased its position in shares of West Fraser Timber by 14.7% during the fourth quarter. GRS Advisors LLC now owns 455,910 shares of the company’s stock valued at $39,017,000 after buying an additional 58,488 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in shares of West Fraser Timber by 36.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 83,705 shares of the company’s stock valued at $7,163,000 after buying an additional 22,438 shares during the period. 40.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on WFG. BMO Capital Markets upped their price objective on shares of West Fraser Timber from $92.00 to $105.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $105.60.

West Fraser Timber Stock Down 0.3 %

Shares of WFG opened at $95.11 on Monday. The firm has a market cap of $7.50 billion, a P/E ratio of -78.60 and a beta of 1.16. The stock has a 50 day simple moving average of $86.28 and a two-hundred day simple moving average of $82.12. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.33 and a quick ratio of 1.49. West Fraser Timber Co. Ltd. has a 1 year low of $64.11 and a 1 year high of $95.81.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, July 24th. The company reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by ($0.09). The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.59 billion. West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. On average, analysts forecast that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be paid a $0.237 dividend. This represents a $0.95 annualized dividend and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, September 26th. West Fraser Timber’s dividend payout ratio is currently -77.69%.

West Fraser Timber Company 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.