Tidal Investments LLC Buys 8,296 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Tidal Investments LLC boosted its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 311.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,962 shares of the company’s stock after buying an additional 8,296 shares during the quarter. Tidal Investments LLC’s holdings in West Fraser Timber were worth $1,067,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in shares of West Fraser Timber by 10.0% in the third quarter. Barclays PLC now owns 7,119 shares of the company’s stock valued at $693,000 after purchasing an additional 647 shares during the period. Geode Capital Management LLC raised its position in West Fraser Timber by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 233,128 shares of the company’s stock valued at $22,499,000 after purchasing an additional 14,662 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of West Fraser Timber by 35.3% in the 3rd quarter. Jane Street Group LLC now owns 26,422 shares of the company’s stock worth $2,574,000 after buying an additional 6,891 shares during the period. Quantinno Capital Management LP bought a new position in shares of West Fraser Timber during the 3rd quarter worth $258,000. Finally, Janus Henderson Group PLC increased its stake in shares of West Fraser Timber by 383.7% during the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock valued at $7,296,000 after buying an additional 59,347 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Price Performance

WFG opened at $84.65 on Friday. The firm has a market capitalization of $6.79 billion, a PE ratio of -66.13 and a beta of 1.19. The business’s 50-day moving average is $94.04 and its two-hundred day moving average is $88.21. West Fraser Timber Co. Ltd. has a 1 year low of $73.91 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the previous year, the firm earned $1.81 EPS. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, December 27th. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio is currently -73.44%.

Analyst Ratings Changes

Several research analysts have issued reports on WFG shares. 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 report on Tuesday, October 22nd. Scotiabank increased their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note 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 company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $111.60.

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.