Metis Global Partners LLC Boosts Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Metis Global Partners LLC increased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 37.2% in the third quarter, Holdings Channel reports. The institutional investor owned 20,978 shares of the company’s stock after acquiring an additional 5,686 shares during the quarter. Metis Global Partners LLC’s holdings in West Fraser Timber were worth $2,044,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in West Fraser Timber by 27.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company’s stock worth $320,000 after purchasing an additional 802 shares during the period. Chesapeake Capital Corp IL acquired a new position in shares of West Fraser Timber during the first quarter valued at $358,000. Intech Investment Management LLC acquired a new stake in West Fraser Timber in the first quarter worth about $469,000. UniSuper Management Pty Ltd lifted its holdings in West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after purchasing an additional 400 shares during the period. Finally, Toronto Dominion Bank lifted its holdings in West Fraser Timber by 9.4% in the first quarter. Toronto Dominion Bank now owns 29,915 shares of the company’s stock worth $2,586,000 after purchasing an additional 2,562 shares during the period. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Trading Down 0.9 %

Shares of WFG stock opened at $91.87 on Friday. The stock has a 50 day moving average of $94.64 and a 200-day moving average of $85.93. West Fraser Timber Co. Ltd. has a 12 month low of $72.35 and a 12 month high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, October 23rd. The company reported ($1.03) 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 firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the company posted $1.81 earnings per share. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were paid a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a yield of 1.03%. West Fraser Timber’s dividend payout ratio is currently -74.22%.

Analysts Set New Price Targets

Several brokerages have commented on WFG. BMO Capital Markets boosted their price target 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 boosted their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. Finally, Royal Bank of Canada boosted their price target 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 research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, West Fraser Timber presently has a consensus rating of “Buy” and an average price target of $111.60.

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.