Geode Capital Management LLC Buys 14,662 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Geode Capital Management LLC grew its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 233,128 shares of the company's stock after acquiring an additional 14,662 shares during the quarter. Geode Capital Management LLC owned about 0.29% of West Fraser Timber worth $22,499,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WFG. Signaturefd LLC grew its stake in West Fraser Timber by 60.0% in the second quarter. Signaturefd LLC now owns 496 shares of the company's stock valued at $38,000 after purchasing an additional 186 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in West Fraser Timber in the second quarter valued at about $44,000. US Bancorp DE boosted its holdings in West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company's stock worth $125,000 after acquiring an additional 582 shares in the last quarter. D.B. Root & Company LLC acquired a new stake in West Fraser Timber in the third quarter worth about $223,000. Finally, Quantinno Capital Management LP purchased a new stake in shares of West Fraser Timber during the third quarter worth about $258,000. Institutional investors own 40.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on WFG. BMO Capital Markets raised their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, October 22nd. Scotiabank raised their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a "sector outperform" rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $111.60.

West Fraser Timber Price Performance

NYSE WFG traded down $0.84 during trading hours on Friday, hitting $86.47. The company had a trading volume of 103,952 shares, compared to its average volume of 156,588. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The firm's 50 day moving average is $92.58 and its 200 day moving average is $88.64. The company has a market capitalization of $6.94 billion, a price-to-earnings ratio of -67.55 and a beta of 1.19.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.87). The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same quarter last year, the company earned $1.81 earnings per share. On average, equities analysts anticipate that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 14th. Investors of record on Friday, December 27th will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. This is a positive change from West Fraser Timber's previous quarterly dividend of $0.24. The ex-dividend date is Friday, December 27th. West Fraser Timber's dividend payout ratio (DPR) is currently -100.00%.

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.