Invesco Ltd. Sells 18,958 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Invesco Ltd. cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 19.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,832 shares of the company's stock after selling 18,958 shares during the period. Invesco Ltd. owned 0.10% of West Fraser Timber worth $6,736,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in West Fraser Timber in the 4th quarter worth $35,000. Kestra Investment Management LLC purchased a new stake in West Fraser Timber in the 4th quarter worth approximately $39,000. Signaturefd LLC lifted its holdings in West Fraser Timber by 22.5% during the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company's stock valued at $93,000 after purchasing an additional 198 shares in the last quarter. D.B. Root & Company LLC boosted its position in shares of West Fraser Timber by 24.0% in the fourth quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock worth $246,000 after purchasing an additional 549 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in shares of West Fraser Timber by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock valued at $250,000 after purchasing an additional 120 shares during the period. 40.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. TD Securities cut their price target on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating for the company in a research note on Thursday. Raymond James reduced their price objective on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Royal Bank of Canada cut their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Scotiabank dropped their price objective on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday, February 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $100.40.

West Fraser Timber Price Performance

Shares of NYSE:WFG traded up $0.78 during mid-day trading on Friday, reaching $73.51. 169,819 shares of the company were exchanged, compared to its average volume of 176,327. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40. The firm has a market cap of $5.67 billion, a price-to-earnings ratio of -350.05 and a beta of 1.21. The firm's 50-day simple moving average is $75.99 and its 200 day simple moving average is $85.50.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.61 by ($0.15). West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. The company had revenue of $1.46 billion for the quarter, compared to analysts' expectations of $1.53 billion. On average, research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber's dividend payout ratio is currently -752.94%.

West Fraser Timber Company Profile

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.