American Century Companies Inc. cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 12.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 76,902 shares of the company's stock after selling 10,697 shares during the quarter. American Century Companies Inc. owned about 0.10% of West Fraser Timber worth $6,663,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of West Fraser Timber by 60.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company's stock valued at $27,453,000 after purchasing an additional 119,841 shares in the last quarter. Manning & Napier Advisors LLC raised its holdings in West Fraser Timber by 14.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company's stock valued at $73,830,000 after buying an additional 109,447 shares in the last quarter. Alberta Investment Management Corp boosted its stake in shares of West Fraser Timber by 58.7% during the 4th 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. Janus Henderson Group PLC increased its holdings in shares of West Fraser Timber by 383.7% during the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company's stock valued at $7,296,000 after acquiring an additional 59,347 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its stake in shares of West Fraser Timber by 18.7% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 281,367 shares of the company's stock valued at $24,352,000 after acquiring an additional 44,424 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.
West Fraser Timber Stock Performance
Shares of WFG traded up $0.46 during mid-day trading on Tuesday, hitting $70.99. The company's stock had a trading volume of 401,565 shares, compared to its average volume of 175,751. The stock's 50-day moving average is $78.79 and its two-hundred day moving average is $87.79. The firm has a market capitalization of $5.49 billion, a PE ratio of -338.06 and a beta of 1.21. West Fraser Timber Co. Ltd. has a one year low of $69.73 and a one year high of $102.40.
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 for the quarter, beating analysts' consensus estimates of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. Analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.
West Fraser Timber Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors 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 yield of 1.80%. West Fraser Timber's dividend payout ratio is -609.52%.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on the company. Scotiabank decreased their target price on 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. Raymond James decreased their price objective on shares of West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Finally, TD Securities dropped their target price on shares of West Fraser Timber from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $106.00.
View Our Latest Stock Analysis on WFG
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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