Galibier Capital Management Ltd. Reduces Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Galibier Capital Management Ltd. lowered its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 24.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 158,544 shares of the company’s stock after selling 50,879 shares during the quarter. West Fraser Timber makes up approximately 3.9% of Galibier Capital Management Ltd.’s investment portfolio, making the stock its 14th largest holding. Galibier Capital Management Ltd.’s holdings in West Fraser Timber were worth $13,730,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Toronto Dominion Bank raised its holdings in West Fraser Timber by 0.4% during the 2nd quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock valued at $2,309,000 after acquiring an additional 125 shares during the period. Moors & Cabot Inc. raised its stake in shares of West Fraser Timber by 3.5% during the 3rd quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock valued at $430,000 after purchasing an additional 150 shares during the period. CIBC Asset Management Inc boosted its stake in West Fraser Timber by 0.4% in the 3rd quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock worth $6,966,000 after purchasing an additional 311 shares during the period. Signaturefd LLC grew its holdings in West Fraser Timber by 77.4% during the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after buying an additional 384 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of West Fraser Timber by 1.6% in 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 in the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WFG shares. BMO Capital Markets boosted their price objective on shares of 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 upped 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 report on Friday, October 25th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $111.60.

West Fraser Timber Stock Performance

West Fraser Timber stock opened at $90.02 on Friday. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The firm’s fifty day moving average price is $90.60 and its 200-day moving average price is $89.50. The stock has a market cap 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 data on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The firm 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 company posted $1.81 earnings per share. On average, analysts predict that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current year.

West Fraser Timber Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were paid a $0.32 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 1.42%. West Fraser Timber’s dividend payout ratio is -100.00%.

About West Fraser Timber

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.