Renaissance Technologies LLC Sells 23,400 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Renaissance Technologies LLC lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 41.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,500 shares of the company’s stock after selling 23,400 shares during the quarter. Renaissance Technologies LLC’s holdings in West Fraser Timber were worth $2,575,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WFG. Signaturefd LLC boosted its position in West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after purchasing an additional 186 shares during the last quarter. Inspire Advisors LLC lifted its holdings in West Fraser Timber by 4.3% during the 2nd quarter. Inspire Advisors LLC now owns 4,592 shares of the company’s stock worth $353,000 after purchasing an additional 189 shares during the last quarter. Bank of Nova Scotia Trust Co. boosted its stake in West Fraser Timber by 6.9% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 3,472 shares of the company’s stock valued at $300,000 after purchasing an additional 224 shares during the period. Quantbot Technologies LP lifted its holdings 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 buying an additional 236 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in shares of West Fraser Timber by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after buying an additional 400 shares in the last quarter. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Stock Up 0.7 %

WFG stock opened at $98.06 on Wednesday. West Fraser Timber Co. Ltd. has a 52 week low of $64.11 and a 52 week high of $98.41. The business has a 50-day simple moving average of $88.73 and a 200 day simple moving average of $82.85. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. The company has a market cap of $7.70 billion, a PE ratio of -81.04 and a beta of 1.16.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, July 24th. The company reported $1.20 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 analyst estimates of $1.59 billion. West Fraser Timber had a net margin of 2.23% and a return on equity of 3.83%. West Fraser Timber’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 2.03 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. BMO Capital Markets raised their price target 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 increased their target price 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 company. According to data from MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average target price of $105.60.

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.