West Fraser Timber Co. Ltd. (NYSE:WFG) Position Boosted by Fmr LLC

Fmr LLC boosted its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 22.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,447,823 shares of the company’s stock after buying an additional 266,298 shares during the quarter. Fmr LLC owned approximately 1.80% of West Fraser Timber worth $141,047,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of WFG. Virtu Financial LLC bought a new stake in shares of West Fraser Timber in the 1st quarter valued at approximately $218,000. Manning & Napier Advisors LLC acquired a new stake in shares of West Fraser Timber during the second quarter worth $42,886,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of West Fraser Timber in the 2nd quarter worth about $368,000. Assenagon Asset Management S.A. boosted its holdings in shares of West Fraser Timber by 19.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 34,052 shares of the company’s stock valued at $2,615,000 after buying an additional 5,495 shares during the period. Finally, Van Lanschot Kempen Investment Management N.V. grew its position in shares of West Fraser Timber by 15.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 692,453 shares of the company’s stock valued at $53,229,000 after buying an additional 91,490 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Trading Up 0.8 %

Shares of NYSE WFG opened at $95.01 on Wednesday. West Fraser Timber Co. Ltd. has a 12-month low of $72.56 and a 12-month high of $102.40. The stock has a 50 day simple moving average of $95.71 and a 200-day simple moving average of $87.37.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the company posted $1.81 EPS. As a group, equities analysts forecast 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 declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were given a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.00%. West Fraser Timber’s dividend payout ratio (DPR) is -74.22%.

Analysts Set New Price Targets

WFG has been the topic of a number of recent research reports. BMO Capital Markets raised their target price 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 boosted their price objective on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price 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.