Pictet Asset Management Holding SA Sells 64,780 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Pictet Asset Management Holding SA reduced its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 5.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,058,475 shares of the company's stock after selling 64,780 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.36% of West Fraser Timber worth $91,665,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of West Fraser Timber during the fourth quarter worth about $39,000. Signaturefd LLC grew its position in shares of West Fraser Timber by 22.5% in the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company's stock worth $93,000 after buying an additional 198 shares during the last quarter. D.B. Root & Company LLC grew its position in shares of West Fraser Timber by 24.0% in the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock worth $246,000 after buying an additional 549 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of West Fraser Timber by 4.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock valued at $250,000 after buying an additional 120 shares during the period. Finally, Quantinno Capital Management LP bought a new position in shares of West Fraser Timber during the third quarter valued at approximately $258,000. Hedge funds and other institutional investors own 40.23% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TD Securities reduced their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Raymond James reduced their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, 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 note on Tuesday, February 18th. Five 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 $106.00.

West Fraser Timber Stock Down 2.9 %

Shares of WFG stock traded down $2.29 during mid-day trading on Thursday, reaching $76.48. 91,579 shares of the company's stock traded hands, compared to its average volume of 173,145. The company's 50-day moving average price is $80.58 and its 200-day moving average price is $88.55. The company has a market cap of $5.91 billion, a P/E ratio of -364.19 and a beta of 1.23. West Fraser Timber Co. Ltd. has a 12 month low of $73.91 and a 12 month high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, topping the consensus estimate 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%. Equities analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Friday, March 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.67%. West Fraser Timber's payout ratio is currently -609.52%.

West Fraser Timber 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.