Kestra Investment Management LLC Makes New Investment in West Fraser Timber Co. Ltd. (NYSE:WFG)

Kestra Investment Management LLC bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) during the fourth quarter, HoldingsChannel.com reports. The firm bought 450 shares of the company’s stock, valued at approximately $39,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Atria Wealth Solutions Inc. grew its position in shares of West Fraser Timber by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock worth $250,000 after purchasing an additional 120 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of West Fraser Timber by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock worth $1,057,000 after purchasing an additional 228 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of West Fraser Timber by 6.3% during the 4th quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock worth $52,565,000 after purchasing an additional 35,855 shares in the last quarter. Lightrock Netherlands B.V. acquired a new position in shares of West Fraser Timber during the 4th quarter worth approximately $3,197,000. Finally, Sycomore Asset Management acquired a new position in shares of West Fraser Timber during the 4th quarter worth approximately $596,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on WFG shares. 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. TD Securities reduced their price target 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. Finally, Scotiabank reduced their price target 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, West Fraser Timber has an average rating of “Buy” and a consensus price target of $106.00.

West Fraser Timber Price Performance

Shares of West Fraser Timber stock opened at $78.91 on Friday. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The firm has a market capitalization of $6.13 billion, a P/E ratio of -375.77 and a beta of 1.22. The company’s 50 day moving average price is $86.16 and its two-hundred day moving average price is $90.44.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates 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%. On average, analysts expect 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 announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be given a $0.32 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a 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.