West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA trimmed its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,058,475 shares of the company’s stock after selling 64,780 shares during the period. Pictet Asset Management Holding SA’s holdings in West Fraser Timber were worth $91,665,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WFG. Atria Wealth Solutions Inc. raised its holdings in West Fraser Timber by 4.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock worth $250,000 after purchasing an additional 120 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in shares of West Fraser Timber by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock worth $260,000 after buying an additional 121 shares during the last quarter. Signaturefd LLC boosted its position in shares of West Fraser Timber by 22.5% in the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock worth $93,000 after buying an additional 198 shares in the last quarter. Principal Financial Group Inc. grew its stake in West Fraser Timber by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock valued at $1,057,000 after acquiring an additional 228 shares during the last quarter. Finally, Inspire Advisors LLC increased its holdings in West Fraser Timber by 5.7% during the 4th quarter. Inspire Advisors LLC now owns 4,491 shares of the company’s stock valued at $389,000 after acquiring an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

NYSE:WFG opened at $75.61 on Friday. The firm has a market cap of $5.84 billion, a PE ratio of -360.04 and a beta of 1.23. The firm has a 50 day simple moving average of $81.36 and a 200-day simple moving average of $88.77. West Fraser Timber Co. Ltd. has a 1-year low of $73.91 and a 1-year high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate 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%. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber’s payout ratio is -609.52%.

Wall Street Analyst Weigh In

Several analysts have 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 report on Thursday, February 13th. TD Securities reduced their target price on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Scotiabank dropped their price target on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $106.00.

West Fraser Timber 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.