Sava Infond d.o.o. Makes New Investment in West Fraser Timber Co. Ltd. (NYSE:WFG)

Sava Infond d.o.o. acquired a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG) in the 4th quarter, Holdings Channel.com reports. The fund acquired 4,700 shares of the company’s stock, valued at approximately $407,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alberta Investment Management Corp lifted its stake in West Fraser Timber by 58.7% in the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock valued at $25,452,000 after acquiring an additional 108,670 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in West Fraser Timber by 6.3% in the 4th quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock valued at $52,565,000 after purchasing an additional 35,855 shares during the last quarter. Tacita Capital Inc bought a new position in West Fraser Timber during the fourth quarter worth about $412,000. Janus Henderson Group PLC increased its position in West Fraser Timber by 383.7% during the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock worth $7,296,000 after buying an additional 59,347 shares during the last quarter. Finally, Manning & Napier Advisors LLC raised its stake in West Fraser Timber by 14.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock valued at $73,830,000 after buying an additional 109,447 shares during the period. 40.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WFG has been the topic of a number of recent analyst reports. Scotiabank decreased their target price on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 18th. Raymond James decreased their price objective on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Finally, TD Securities dropped their price objective 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. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, West Fraser Timber presently has a consensus rating of “Buy” and a consensus target price of $106.00.

West Fraser Timber Price Performance

WFG opened at $77.07 on Friday. The business has a fifty day simple moving average of $81.65 and a 200 day simple moving average of $88.85. West Fraser Timber Co. Ltd. has a 1 year low of $73.91 and a 1 year high of $102.40. The company has a market capitalization of $6.14 billion, a PE ratio of -367.02 and a beta of 1.23.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, topping 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%. Equities analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber’s payout ratio is presently -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.