Galibier Capital Management Ltd. Sells 50,879 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Galibier Capital Management Ltd. lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 24.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 158,544 shares of the company’s stock after selling 50,879 shares during the period. West Fraser Timber comprises approximately 3.9% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 14th largest holding. Galibier Capital Management Ltd. owned 0.20% of West Fraser Timber worth $13,730,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its stake in West Fraser Timber by 15.8% in the second quarter. American Century Companies Inc. now owns 76,508 shares of the company’s stock valued at $5,876,000 after buying an additional 10,461 shares during the period. Envestnet Asset Management Inc. bought a new position in West Fraser Timber in the 2nd quarter valued at about $1,862,000. Massachusetts Financial Services Co. MA acquired a new stake in West Fraser Timber during the second quarter worth approximately $1,634,000. Dimensional Fund Advisors LP boosted its holdings in shares of West Fraser Timber by 0.6% during the second quarter. Dimensional Fund Advisors LP now owns 132,556 shares of the company’s stock worth $10,190,000 after acquiring an additional 825 shares during the period. Finally, Moors & Cabot Inc. grew its position in shares of West Fraser Timber by 4.7% in the second quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock valued at $328,000 after purchasing an additional 190 shares during the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $90.02 on Friday. West Fraser Timber Co. Ltd. has a 52 week low of $73.91 and a 52 week high of $102.40. The stock’s fifty day moving average is $90.60 and its 200 day moving average is $89.50. The stock has a market capitalization of $7.22 billion, a P/E ratio of -70.33 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter last year, the company posted $1.81 EPS. Equities research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current year.

West Fraser Timber Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a $0.32 dividend. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 annualized dividend and a yield of 1.42%. West Fraser Timber’s payout ratio is currently -100.00%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WFG. BMO Capital Markets boosted their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank raised 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. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target 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.