Oppenheimer & Co. Inc. Has $679,000 Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Oppenheimer & Co. Inc. cut its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 87.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,970 shares of the company’s stock after selling 46,575 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in West Fraser Timber were worth $679,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in WFG. Principal Financial Group Inc. lifted its stake in shares of West Fraser Timber by 12.4% in the third quarter. Principal Financial Group Inc. now owns 11,974 shares of the company’s stock worth $1,168,000 after acquiring an additional 1,323 shares during the period. D.B. Root & Company LLC acquired a new position in shares of West Fraser Timber in the 3rd quarter worth approximately $223,000. Van ECK Associates Corp boosted its stake in shares of West Fraser Timber by 4,057.8% in the 3rd quarter. Van ECK Associates Corp now owns 193,752 shares of the company’s stock valued at $18,321,000 after purchasing an additional 189,092 shares during the last quarter. US Bancorp DE increased its position in shares of West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after buying an additional 582 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its stake in West Fraser Timber by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company’s stock worth $3,285,000 after buying an additional 532 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Down 0.7 %

Shares of West Fraser Timber stock opened at $92.46 on Wednesday. The company has a market cap of $7.42 billion, a PE ratio of -72.23 and a beta of 1.18. West Fraser Timber Co. Ltd. has a 52 week low of $72.35 and a 52 week high of $102.40. The business has a 50 day moving average price of $94.85 and a 200-day moving average price of $86.26.

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

West Fraser Timber Cuts Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Scotiabank upped their target price on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. BMO Capital Markets increased their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average 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.