Bank of New York Mellon Corp boosted its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 22.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,526 shares of the company's stock after acquiring an additional 10,841 shares during the quarter. Bank of New York Mellon Corp owned 0.08% of West Fraser Timber worth $5,152,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in WFG. Kestra Investment Management LLC acquired a new position in West Fraser Timber in the fourth quarter worth $39,000. Quantinno Capital Management LP acquired a new position in shares of West Fraser Timber during the third quarter worth approximately $258,000. D.B. Root & Company LLC grew its stake in shares of West Fraser Timber by 24.0% during the fourth quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock valued at $246,000 after purchasing an additional 549 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in shares of West Fraser Timber by 4.3% in the fourth 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 in the last quarter. Finally, Moors & Cabot Inc. raised its position in West Fraser Timber by 3.5% in the 3rd quarter. Moors & Cabot Inc. now owns 4,420 shares of the company's stock worth $430,000 after purchasing an additional 150 shares during the last quarter. 40.23% of the stock is owned by institutional investors.
West Fraser Timber Stock Down 0.9 %
Shares of West Fraser Timber stock traded down $0.69 during trading on Friday, reaching $76.26. 112,020 shares of the company were exchanged, compared to its average volume of 169,841. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40. The business has a 50-day moving average price of $82.61 and a 200-day moving average price of $89.20. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of -363.12 and a beta of 1.23.
West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. On average, equities research analysts forecast 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 announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be issued a $0.32 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.28 annualized dividend and a yield of 1.68%. West Fraser Timber's dividend payout ratio (DPR) is presently -609.52%.
Analysts Set New Price Targets
Several equities research analysts have recently commented on WFG shares. TD Securities lowered their target price on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Raymond James lowered their price objective on West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank cut their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, February 18th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $106.00.
View Our Latest Stock Report on WFG
West Fraser Timber 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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