MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 40,734 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 55.5% in the second quarter, Holdings Channel reports. The institutional investor owned 32,684 shares of the company’s stock after selling 40,734 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in West Fraser Timber were worth $2,510,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Signaturefd LLC grew its position in shares of West Fraser Timber by 60.0% in the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after buying an additional 186 shares during the last quarter. Bank of Nova Scotia Trust Co. boosted its holdings in West Fraser Timber by 6.9% in the first 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 last quarter. Quantbot Technologies LP raised its stake in shares of West Fraser Timber by 3.6% during the 1st quarter. Quantbot Technologies LP now owns 6,752 shares of the company’s stock valued at $584,000 after buying an additional 236 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of West Fraser Timber by 8.6% during the 1st quarter. Inspire Advisors LLC now owns 4,403 shares of the company’s stock worth $381,000 after purchasing an additional 350 shares during the period. Finally, UniSuper Management Pty Ltd boosted its stake in shares of West Fraser Timber by 100.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after acquiring an additional 400 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 0.5 %

WFG stock traded down $0.41 during mid-day trading on Friday, hitting $88.52. 76,677 shares of the company were exchanged, compared to its average volume of 126,180. The business has a fifty day simple moving average of $82.28 and a 200-day simple moving average of $81.06. The firm has a market capitalization of $6.95 billion, a P/E ratio of -73.16 and a beta of 1.16. West Fraser Timber Co. Ltd. has a 12-month low of $64.11 and a 12-month high of $91.43. The company has a quick ratio of 1.49, a current ratio of 2.33 and a debt-to-equity ratio of 0.03.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates 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%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) earnings per share. On average, equities research analysts predict that West Fraser Timber Co. Ltd. will post 2.03 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Wednesday, June 26th were issued a dividend of $0.32 per share. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.45%. West Fraser Timber’s dividend payout ratio (DPR) is -105.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WFG shares. Royal Bank of Canada upped their price objective 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. BMO Capital Markets increased their target price on shares of West Fraser Timber from $92.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. 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 presently has a consensus rating of “Buy” and a consensus price target of $105.60.

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.