Norges Bank Acquires Shares of 943,034 West Fraser Timber Co. Ltd. (NYSE:WFG)

Norges Bank bought a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 943,034 shares of the company's stock, valued at approximately $81,605,000. Norges Bank owned about 1.21% of West Fraser Timber at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of WFG. Kestra Investment Management LLC acquired a new stake in West Fraser Timber during the fourth quarter worth $39,000. Signaturefd LLC lifted its holdings in shares of West Fraser Timber by 22.5% during the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company's stock worth $93,000 after acquiring an additional 198 shares during the period. D.B. Root & Company LLC boosted its position in shares of West Fraser Timber by 24.0% during the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock valued at $246,000 after acquiring an additional 549 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in West Fraser Timber by 4.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock valued at $250,000 after acquiring an additional 120 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in West Fraser Timber in the third quarter worth about $258,000. 40.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WFG. TD Securities decreased their price objective on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Raymond James lowered their price target on West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank cut their price objective on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday, February 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $106.00.

Remove Ads

West Fraser Timber Trading Down 4.2 %

NYSE WFG traded down $3.05 during trading hours on Monday, reaching $70.39. 502,893 shares of the company's stock were exchanged, compared to its average volume of 174,725. The firm has a fifty day moving average of $79.46 and a 200-day moving average of $88.08. West Fraser Timber Co. Ltd. has a one year low of $69.73 and a one year high of $102.40. The stock has a market cap of $5.44 billion, a PE ratio of -335.18 and a beta of 1.21.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were given a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.82%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber's payout ratio is presently -609.52%.

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.