Aigen Investment Management LP Makes New Investment in West Fraser Timber Co. Ltd. (NYSE:WFG)

Aigen Investment Management LP purchased a new position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,628 shares of the company's stock, valued at approximately $834,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in WFG. Smead Capital Management Inc. raised its stake in shares of West Fraser Timber by 5.1% in the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company's stock worth $11,507,000 after purchasing an additional 5,743 shares during the last quarter. Alberta Investment Management Corp raised its stake in shares of West Fraser Timber by 58.7% in the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company's stock worth $25,452,000 after purchasing an additional 108,670 shares during the last quarter. Vontobel Holding Ltd. raised its stake in shares of West Fraser Timber by 6.3% in the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company's stock worth $52,565,000 after purchasing an additional 35,855 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of West Fraser Timber by 383.7% in the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company's stock worth $7,296,000 after purchasing an additional 59,347 shares during the last quarter. Finally, Tacita Capital Inc purchased a new stake in shares of West Fraser Timber in the fourth quarter worth approximately $412,000. Institutional investors own 40.23% of the company's stock.

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West Fraser Timber Trading Up 0.4 %

Shares of WFG traded up $0.28 on Friday, reaching $78.03. 208,066 shares of the company's stock traded hands, compared to its average volume of 168,082. The stock has a market cap of $6.04 billion, a PE ratio of -371.57 and a beta of 1.23. The stock's 50 day simple moving average is $84.40 and its two-hundred day simple moving average is $89.92. West Fraser Timber Co. Ltd. has a 52-week low of $73.91 and a 52-week high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, beating 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%. Analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, March 14th. West Fraser Timber's dividend payout ratio is currently -609.52%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. TD Securities lowered their price objective on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Scotiabank lowered their price objective on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a research note on Tuesday, February 18th. Finally, Raymond James lowered their price objective on West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber has a consensus rating of "Buy" and an average price target of $106.00.

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.