Lightrock Netherlands B.V. Sells 13,582 Shares of West Fraser Timber Co. Ltd. $WFG

Lightrock Netherlands B.V. lowered its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 4.2% in the first quarter, HoldingsChannel reports. The firm owned 306,721 shares of the company’s stock after selling 13,582 shares during the period. West Fraser Timber makes up 2.0% of Lightrock Netherlands B.V.’s portfolio, making the stock its 11th largest position. Lightrock Netherlands B.V.’s holdings in West Fraser Timber were worth $20,052,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of WFG. AMG National Trust Bank acquired a new stake in shares of West Fraser Timber in the first quarter valued at approximately $394,000. Principal Financial Group Inc. lifted its holdings in West Fraser Timber by 20.5% during the 1st quarter. Principal Financial Group Inc. now owns 51,964 shares of the company’s stock valued at $3,383,000 after purchasing an additional 8,836 shares during the last quarter. Diversify Wealth Management LLC acquired a new stake in West Fraser Timber during the 1st quarter valued at $345,000. Counterpoint Mutual Funds LLC bought a new position in West Fraser Timber during the first quarter worth $323,000. Finally, Physician Wealth Advisors Inc. boosted its position in West Fraser Timber by 177.0% during the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after purchasing an additional 370 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Trading Up 0.6%

WFG stock opened at $71.71 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 1.84. The company’s 50-day simple moving average is $66.38 and its 200 day simple moving average is $66.47. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $76.99. The company has a market capitalization of $5.62 billion, a PE ratio of -4.77 and a beta of 1.00.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($1.17). The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. West Fraser Timber had a negative return on equity of 9.67% and a negative net margin of 21.86%. As a group, sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post -3.99 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Thursday, June 25th. This represents a $1.28 annualized dividend and a dividend yield of 1.8%. West Fraser Timber’s dividend payout ratio (DPR) is currently -8.51%.

Analyst Upgrades and Downgrades

WFG has been the topic of several research analyst reports. Zacks Research lowered shares of West Fraser Timber from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 2nd. TD Cowen reduced their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada lowered their price target on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Fraser Mackenzie cut their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Finally, TD Securities restated a “buy” rating and set a $86.00 price objective on shares of West Fraser Timber in a report on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, West Fraser Timber currently has a consensus rating of “Hold” and an average price target of $82.60.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.