Moors & Cabot Inc. Has $430,000 Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Moors & Cabot Inc. lifted its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 3.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,420 shares of the company’s stock after buying an additional 150 shares during the quarter. Moors & Cabot Inc.’s holdings in West Fraser Timber were worth $430,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Park Place Capital Corp bought a new position in West Fraser Timber during the 2nd quarter worth $31,000. Signaturefd LLC raised its position in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of West Fraser Timber in the second quarter worth approximately $44,000. UniSuper Management Pty Ltd lifted its stake in shares of West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after acquiring an additional 400 shares during the period. Finally, US Bancorp DE boosted its holdings in West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after acquiring an additional 582 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on WFG shares. Scotiabank boosted 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 research report on Friday, October 25th. BMO Capital Markets boosted their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, West Fraser Timber has a consensus rating of “Buy” and an average target price of $111.60.

West Fraser Timber Stock Performance

West Fraser Timber stock opened at $94.46 on Friday. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of -73.80 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 stock’s 50 day moving average price is $95.21 and its two-hundred day moving average price is $86.55.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the company earned $1.81 earnings per share. On average, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend was Thursday, September 26th. West Fraser Timber’s payout ratio is -74.22%.

West Fraser Timber 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.