Grantham Mayo Van Otterloo & Co. LLC reduced its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 21.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 396,956 shares of the company's stock after selling 105,467 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned 0.51% of West Fraser Timber worth $34,372,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of WFG. Vanguard Group Inc. increased its position in shares of West Fraser Timber by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company's stock valued at $246,652,000 after purchasing an additional 12,874 shares during the last quarter. Norges Bank purchased a new stake in West Fraser Timber during the 4th quarter valued at $81,605,000. Manning & Napier Advisors LLC increased its position in shares of 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 acquiring an additional 109,447 shares during the period. Vontobel Holding Ltd. raised its stake in shares of West Fraser Timber by 6.3% during the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company's stock valued at $52,565,000 after acquiring an additional 35,855 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of West Fraser Timber by 60.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company's stock worth $27,453,000 after purchasing an additional 119,841 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.
West Fraser Timber Stock Performance
Shares of NYSE WFG traded up $0.57 during mid-day trading on Friday, hitting $74.84. 69,983 shares of the stock traded hands, compared to its average volume of 176,012. The company has a market cap of $5.79 billion, a price-to-earnings ratio of -355.62 and a beta of 1.21. The stock has a fifty day moving average price of $78.12 and a 200-day moving average price of $87.42. 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 announced its 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 negative net margin of 0.08% and a positive return on equity of 0.88%. As a group, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.
West Fraser Timber Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Friday, March 14th. West Fraser Timber's dividend payout ratio is -609.52%.
Analyst Ratings Changes
Several research firms have weighed in on WFG. TD Securities dropped their price objective on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating for the company in a report on Friday, February 14th. Scotiabank dropped their price target 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 reduced their price objective on shares of 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, West Fraser Timber presently has a consensus rating of "Buy" and a consensus price target of $106.00.
View Our Latest Stock Analysis on WFG
About West Fraser Timber
(
Free Report)
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.
Featured Stories
Before you consider West Fraser Timber, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and West Fraser Timber wasn't on the list.
While West Fraser Timber currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering when you'll finally be able to invest in SpaceX, Starlink, or X.AI? Enter your email address to learn when Elon Musk will let these companies finally IPO.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
