Raymond James Financial Inc. Invests $487,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

Raymond James Financial Inc. bought a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,631 shares of the company's stock, valued at approximately $487,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC lifted its holdings in shares of West Fraser Timber by 383.7% during the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company's stock valued at $7,296,000 after buying an additional 59,347 shares during the last quarter. Quantinno Capital Management LP acquired a new stake in West Fraser Timber in the third quarter valued at approximately $258,000. Jane Street Group LLC grew its position in West Fraser Timber by 35.3% in the third quarter. Jane Street Group LLC now owns 26,422 shares of the company's stock worth $2,574,000 after acquiring an additional 6,891 shares in the last quarter. Barclays PLC increased its stake in shares of West Fraser Timber by 10.0% during the 3rd quarter. Barclays PLC now owns 7,119 shares of the company's stock worth $693,000 after purchasing an additional 647 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of West Fraser Timber by 6.7% during the 3rd quarter. Geode Capital Management LLC now owns 233,128 shares of the company's stock valued at $22,499,000 after purchasing an additional 14,662 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Stock Up 1.5 %

NYSE WFG traded up $1.09 during trading on Friday, hitting $75.36. The company's stock had a trading volume of 170,400 shares, compared to its average volume of 176,400. West Fraser Timber Co. Ltd. has a 52 week low of $69.48 and a 52 week high of $102.40. The firm has a market cap of $5.83 billion, a P/E ratio of -358.85 and a beta of 1.21. The firm has a 50 day moving average price of $77.94 and a 200 day moving average price of $87.29.

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West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber's dividend payout ratio is -609.52%.

Wall Street Analysts Forecast Growth

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