West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Bought by Swiss National Bank

Swiss National Bank grew its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 167,038 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Swiss National Bank owned about 0.21% of West Fraser Timber worth $16,301,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Toronto Dominion Bank boosted its holdings in shares of West Fraser Timber by 0.4% during the second quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock valued at $2,309,000 after acquiring an additional 125 shares during the period. Signaturefd LLC boosted its holdings in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $38,000 after acquiring an additional 186 shares during the period. Inspire Advisors LLC boosted its holdings in shares of West Fraser Timber by 4.3% during the second quarter. Inspire Advisors LLC now owns 4,592 shares of the company’s stock valued at $353,000 after acquiring an additional 189 shares during the period. Moors & Cabot Inc. boosted its holdings in shares of West Fraser Timber by 4.7% during the second quarter. Moors & Cabot Inc. now owns 4,270 shares of the company’s stock valued at $328,000 after acquiring an additional 190 shares during the period. Finally, CIBC Asset Management Inc lifted its holdings in West Fraser Timber by 0.4% in the third quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock worth $6,966,000 after purchasing an additional 311 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Trading Down 1.1 %

Shares of NYSE WFG opened at $94.46 on Friday. West Fraser Timber Co. Ltd. has a twelve month low of $72.35 and a twelve month high of $102.40. The company has a market capitalization of $7.58 billion, a price-to-earnings ratio of -73.80 and a beta of 1.18. The firm has a 50-day moving average of $95.21 and a two-hundred day moving average of $86.49.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The business had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company posted $1.81 earnings per share. As a group, research analysts predict that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were issued a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a yield of 1.00%. West Fraser Timber’s payout ratio is presently -73.44%.

Analysts Set New Price Targets

Several research firms recently weighed in on WFG. BMO Capital Markets upped their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Scotiabank upped their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. Finally, Royal Bank of Canada upped their price objective on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $111.60.

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.