Horizon Kinetics Asset Management LLC grew its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 18.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 281,367 shares of the company's stock after purchasing an additional 44,424 shares during the period. Horizon Kinetics Asset Management LLC owned about 0.36% of West Fraser Timber worth $24,352,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Wealth Solutions Inc. lifted its position in West Fraser Timber by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock worth $250,000 after buying an additional 120 shares during the last quarter. Avantax Advisory Services Inc. lifted its holdings in shares of West Fraser Timber by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company's stock worth $260,000 after acquiring an additional 121 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of West Fraser Timber by 3.5% in the 3rd quarter. Moors & Cabot Inc. now owns 4,420 shares of the company's stock valued at $430,000 after purchasing an additional 150 shares in the last quarter. Signaturefd LLC grew 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 valued at $93,000 after purchasing an additional 198 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in West Fraser Timber by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 12,202 shares of the company's stock worth $1,057,000 after purchasing an additional 228 shares during the period. 40.23% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
WFG has been the topic of a number of recent research reports. Scotiabank reduced their price objective 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. Raymond James reduced 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, 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 report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $106.00.
Read Our Latest Analysis on WFG
West Fraser Timber Stock Performance
Shares of NYSE WFG traded down $0.69 during trading hours on Friday, hitting $76.26. The company's stock had a trading volume of 161,210 shares, compared to its average volume of 169,879. West Fraser Timber Co. Ltd. has a 12 month low of $73.91 and a 12 month high of $102.40. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of -363.12 and a beta of 1.23. The business has a 50-day simple moving average of $82.61 and a 200-day simple moving average of $89.20.
West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share 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%. On average, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.
West Fraser Timber Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber's payout ratio is currently -609.52%.
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.
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