Vontobel Holding Ltd. lifted its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 6.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 607,438 shares of the company's stock after purchasing an additional 35,855 shares during the quarter. Vontobel Holding Ltd. owned about 0.78% of West Fraser Timber worth $52,565,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of WFG. Creative Planning grew its holdings in shares of West Fraser Timber by 76.3% in the second quarter. Creative Planning now owns 4,158 shares of the company's stock valued at $320,000 after purchasing an additional 1,800 shares during the period. Signaturefd LLC grew its holdings in shares of West Fraser Timber by 77.4% in the third quarter. Signaturefd LLC now owns 880 shares of the company's stock valued at $86,000 after purchasing an additional 384 shares during the period. International Assets Investment Management LLC purchased a new position in West Fraser Timber during the third quarter worth about $12,370,000. DekaBank Deutsche Girozentrale boosted its stake in West Fraser Timber by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company's stock worth $3,285,000 after buying an additional 532 shares during the period. Finally, US Bancorp DE boosted its stake in West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company's stock worth $125,000 after buying an additional 582 shares during the period. Hedge funds and other institutional investors own 40.23% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on WFG. 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. Raymond James lowered their target price on shares of West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. TD Securities lowered their target price on shares of West Fraser Timber from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday. Finally, BMO Capital Markets increased their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $106.00.
Read Our Latest Stock Analysis on WFG
West Fraser Timber Stock Performance
Shares of WFG traded up $0.71 during mid-day trading on Tuesday, hitting $80.40. 238,003 shares of the company's stock were exchanged, compared to its average volume of 184,465. The company has a market cap of $6.25 billion, a price-to-earnings ratio of -62.81 and a beta of 1.22. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The stock's 50-day moving average is $86.89 and its 200-day moving average is $90.59.
West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. As a group, equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 1.59 EPS for the current year.
West Fraser Timber Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.59%. West Fraser Timber's dividend payout ratio is presently -100.00%.
West Fraser Timber Company 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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