Aviva PLC Takes $2.65 Million Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Aviva PLC purchased a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 30,649 shares of the company's stock, valued at approximately $2,650,000.

A number of other hedge funds have also recently made changes to their positions in WFG. Raymond James Financial Inc. bought a new stake in West Fraser Timber in the fourth quarter worth $487,000. Alberta Investment Management Corp grew its position in West Fraser Timber by 58.7% during the 4th quarter. Alberta Investment Management Corp now owns 293,903 shares of the company's stock worth $25,452,000 after acquiring an additional 108,670 shares during the last quarter. Vontobel Holding Ltd. increased its stake in West Fraser Timber by 6.3% in the 4th 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 period. Tacita Capital Inc bought a new stake in West Fraser Timber in the fourth quarter valued at approximately $412,000. Finally, Manning & Napier Advisors LLC lifted its position in West Fraser Timber by 14.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company's stock valued at $73,830,000 after purchasing an additional 109,447 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on WFG. Raymond James lowered their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. TD Securities lowered their price objective on shares of 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. Finally, Scotiabank cut their target price on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat, West Fraser Timber has an average rating of "Buy" and an average price target of $106.00.

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West Fraser Timber Price Performance

WFG traded down $0.20 on Monday, hitting $75.19. The company had a trading volume of 139,587 shares, compared to its average volume of 207,591. The stock has a fifty day simple moving average of $77.94 and a 200-day simple moving average of $87.23. The firm has a market capitalization of $5.81 billion, a P/E ratio of -358.05 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 52-week low of $69.48 and a 52-week high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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%. Equities research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Friday, March 14th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber's payout ratio is currently -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.