Vanguard Group Inc. boosted its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,846,663 shares of the company's stock after acquiring an additional 12,874 shares during the quarter. Vanguard Group Inc. owned about 3.66% of West Fraser Timber worth $246,652,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in WFG. Raymond James Financial Inc. acquired a new stake in West Fraser Timber during the 4th quarter valued at $487,000. Alberta Investment Management Corp lifted its stake in shares of West Fraser Timber by 58.7% in the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company's stock worth $25,452,000 after acquiring an additional 108,670 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in West Fraser Timber by 6.3% in the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company's stock valued at $52,565,000 after purchasing an additional 35,855 shares during the last quarter. Tacita Capital Inc acquired a new stake in West Fraser Timber during the 4th quarter valued at approximately $412,000. Finally, Janus Henderson Group PLC increased its holdings in West Fraser Timber by 383.7% during the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company's stock worth $7,296,000 after purchasing an additional 59,347 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on WFG. Scotiabank decreased their price target on shares of 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. TD Securities decreased their price target on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Finally, Raymond James cut their price objective on West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, West Fraser Timber currently has an average rating of "Buy" and an average price target of $106.00.
Get Our Latest Research Report on WFG
West Fraser Timber Stock Performance
Shares of NYSE WFG traded down $1.30 during midday trading on Thursday, hitting $74.28. The company's stock had a trading volume of 184,734 shares, compared to its average volume of 176,420. West Fraser Timber Co. Ltd. has a 1-year low of $69.48 and a 1-year high of $102.40. The firm's fifty day moving average price is $78.12 and its 200-day moving average price is $87.42. The firm has a market cap of $5.74 billion, a P/E ratio of -353.69 and a beta of 1.21.
West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 EPS 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%. As a group, research analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.
West Fraser Timber Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were given a dividend of $0.32 per share. The ex-dividend date was Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.72%. West Fraser Timber's dividend payout ratio is presently -609.52%.
West Fraser Timber Profile
(
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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