Bank of Montreal Can Sells 45,793 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Bank of Montreal Can lessened its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,256,300 shares of the company’s stock after selling 45,793 shares during the period. Bank of Montreal Can owned approximately 2.86% of West Fraser Timber worth $176,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of West Fraser Timber in the 4th quarter valued at $76,413,000. Hsbc Holdings PLC boosted its holdings in shares of West Fraser Timber by 29.3% during the 4th quarter. Hsbc Holdings PLC now owns 268,764 shares of the company’s stock valued at $23,005,000 after acquiring an additional 60,823 shares during the last quarter. JARISLOWSKY FRASER Ltd boosted its holdings in shares of West Fraser Timber by 140.2% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 7,205 shares of the company’s stock valued at $619,000 after acquiring an additional 4,205 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of West Fraser Timber by 5.6% in the fourth quarter. TD Asset Management Inc now owns 361,220 shares of the company’s stock worth $31,054,000 after buying an additional 19,124 shares during the last quarter. Finally, Letko Brosseau & Associates Inc. boosted its holdings in shares of West Fraser Timber by 0.8% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 1,134,502 shares of the company’s stock worth $97,533,000 after buying an additional 9,336 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

Shares of NYSE WFG opened at $94.71 on Tuesday. The stock has a market capitalization of $7.47 billion, a price-to-earnings ratio of -78.27 and a beta of 1.16. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $95.81. The firm’s 50 day simple moving average is $86.66 and its 200-day simple moving average is $82.22. 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 (NYSE:WFG) last announced 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). West Fraser Timber had a return on equity of 3.83% and a net margin of 2.23%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the firm earned ($0.03) EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current year.

West Fraser Timber Cuts Dividend

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

Wall Street Analysts Forecast Growth

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

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.