Van Lanschot Kempen Investment Management N.V. boosted its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 639,803 shares of the company's stock after purchasing an additional 7,712 shares during the quarter. Van Lanschot Kempen Investment Management N.V. owned about 0.82% of West Fraser Timber worth $55,375,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FIL Ltd increased its stake in West Fraser Timber by 35.5% during 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 purchased a new stake in shares of West Fraser Timber during the fourth quarter worth $81,605,000. Connor Clark & Lunn Investment Management Ltd. raised 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 valued at $27,453,000 after acquiring an additional 119,841 shares in the last quarter. Manning & Napier Advisors LLC raised its stake 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 in the last quarter. Finally, Alberta Investment Management Corp boosted its holdings in West Fraser Timber by 58.7% in the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company's stock valued at $25,452,000 after purchasing an additional 108,670 shares during the period. Hedge funds and other institutional investors own 40.23% of the company's stock.
West Fraser Timber Trading Up 1.1 %
Shares of NYSE WFG traded up $0.78 during trading hours on Friday, reaching $73.51. The stock had a trading volume of 169,819 shares, compared to its average volume of 209,284. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -350.05 and a beta of 1.21. West Fraser Timber Co. Ltd. has a fifty-two week low of $69.48 and a fifty-two week high of $102.40. The firm has a 50-day moving average of $76.13 and a 200-day moving average of $85.87.
West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.15). The business had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.53 billion. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. On average, equities analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.
West Fraser Timber Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were paid a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. West Fraser Timber's dividend payout ratio (DPR) is -752.94%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. Royal Bank of Canada reduced their price target on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research report on Tuesday. TD Securities reduced their target price on shares of West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday. Scotiabank lowered their target price on shares of 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 dropped their price objective on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $100.40.
Read Our Latest 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.
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