Cubist Systematic Strategies LLC Raises Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Cubist Systematic Strategies LLC lifted its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 446.9% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 18,965 shares of the company’s stock after acquiring an additional 15,497 shares during the period. Cubist Systematic Strategies LLC’s holdings in West Fraser Timber were worth $1,458,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Signaturefd LLC grew its stake 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 acquiring an additional 186 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of West Fraser Timber by 4.3% during the second quarter. Inspire Advisors LLC now owns 4,592 shares of the company’s stock worth $353,000 after acquiring an additional 189 shares during the last quarter. Moors & Cabot Inc. grew its stake in shares of West Fraser Timber by 4.7% during the second quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock worth $328,000 after acquiring an additional 190 shares during the last quarter. Bank of Nova Scotia Trust Co. grew its stake in shares of West Fraser Timber by 6.9% during the first quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock worth $300,000 after acquiring an additional 224 shares during the last quarter. Finally, Quantbot Technologies LP grew its stake in shares of West Fraser Timber by 3.6% during the first quarter. Quantbot Technologies LP now owns 6,752 shares of the company’s stock worth $584,000 after acquiring an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Trading Up 0.7 %

Shares of NYSE:WFG opened at $98.06 on Wednesday. West Fraser Timber Co. Ltd. has a 12-month low of $64.11 and a 12-month high of $98.41. The company has a market capitalization of $7.70 billion, a PE ratio of -81.04 and a beta of 1.16. The business has a 50 day moving average of $88.73 and a two-hundred day moving average of $82.85. The company has a current ratio of 2.33, a quick ratio of 1.49 and a debt-to-equity ratio of 0.03.

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

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be issued a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, September 26th. West Fraser Timber’s payout ratio is presently -78.51%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on WFG shares. BMO Capital Markets upped their target price on West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Royal Bank of Canada upped their target price on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, West Fraser Timber 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.