Van ECK Associates Corp Sells 12,795 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Van ECK Associates Corp reduced its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 180,957 shares of the company's stock after selling 12,795 shares during the quarter. Van ECK Associates Corp owned about 0.23% of West Fraser Timber worth $15,668,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WFG. Signaturefd LLC increased its position in shares of West Fraser Timber by 77.4% during the third quarter. Signaturefd LLC now owns 880 shares of the company's stock worth $86,000 after purchasing an additional 384 shares in the last quarter. US Bancorp DE grew its stake in West Fraser Timber by 82.9% during the 3rd 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 last quarter. D.B. Root & Company LLC purchased a new stake in West Fraser Timber in the third quarter valued at approximately $223,000. Quantinno Capital Management LP acquired a new stake in shares of West Fraser Timber in the third quarter valued at approximately $258,000. Finally, Moors & Cabot Inc. grew its position in shares of West Fraser Timber by 3.5% during the third quarter. Moors & Cabot Inc. now owns 4,420 shares of the company's stock worth $430,000 after acquiring an additional 150 shares during the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on WFG shares. TD Securities lowered their price target on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Raymond James dropped their target price on West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Scotiabank decreased their price target on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday. Finally, BMO Capital Markets boosted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $106.00.

West Fraser Timber Stock Down 1.8 %

Shares of WFG traded down $1.41 during trading on Wednesday, reaching $78.93. The company's stock had a trading volume of 224,276 shares, compared to its average volume of 185,443. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40. The company has a market cap of $6.13 billion, a price-to-earnings ratio of -375.87 and a beta of 1.22. The company has a fifty day moving average of $86.89 and a two-hundred day moving average of $90.59.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share 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%. As a group, equities analysts forecast that West Fraser Timber Co. Ltd. will post 5.14 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be paid a $0.32 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.62%. West Fraser Timber's dividend payout ratio is currently -609.52%.

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.