Scotia Capital Inc. increased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 118.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,796 shares of the company's stock after acquiring an additional 57,344 shares during the quarter. Scotia Capital Inc. owned approximately 0.14% of West Fraser Timber worth $9,157,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of the stock. FIL Ltd lifted its holdings in West Fraser Timber by 35.5% in the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company's stock worth $436,861,000 after buying an additional 1,319,843 shares during the period. Norges Bank bought a new position in shares of West Fraser Timber during the fourth quarter valued at approximately $81,605,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of West Fraser Timber by 60.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company's stock valued at $27,453,000 after acquiring an additional 119,841 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings 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 worth $73,830,000 after buying an additional 109,447 shares during the last quarter. Finally, Alberta Investment Management Corp lifted its position in West Fraser Timber by 58.7% in the 4th quarter. Alberta Investment Management Corp now owns 293,903 shares of the company's stock valued at $25,452,000 after acquiring an additional 108,670 shares in the last quarter. Institutional investors own 40.23% of the company's stock.
West Fraser Timber Stock Up 0.3 %
Shares of West Fraser Timber stock traded up $0.20 on Wednesday, hitting $73.51. The company's stock had a trading volume of 44,572 shares, compared to its average volume of 176,235. The company has a market capitalization of $5.68 billion, a P/E ratio of -350.05 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. The firm has a fifty day moving average price of $77.49 and a 200-day moving average price of $86.98.
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 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%. As a group, analysts expect 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 disclosed 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 yield of 1.74%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber's dividend payout ratio is presently -609.52%.
Analyst Ratings Changes
A number of analysts have commented on the company. Raymond James reduced their price target on West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. TD Securities decreased their price target on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Finally, Scotiabank cut their price target on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a report on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $106.00.
View Our Latest Report 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.
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