Crestline Management LP Takes $7.17 Million Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Crestline Management LP acquired a new position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 82,781 shares of the company's stock, valued at approximately $7,165,000. Crestline Management LP owned about 0.11% of West Fraser Timber at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WFG. Headlands Technologies LLC bought a new stake in shares of West Fraser Timber during the fourth quarter worth $35,000. Kestra Investment Management LLC bought a new position in shares of West Fraser Timber in the 4th quarter valued at about $39,000. Signaturefd LLC grew its position in shares of West Fraser Timber by 22.5% during the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company's stock worth $93,000 after buying an additional 198 shares during the period. Natixis raised its stake in shares of West Fraser Timber by 61.8% during the fourth quarter. Natixis now owns 1,605 shares of the company's stock worth $139,000 after buying an additional 613 shares during the last quarter. Finally, D.B. Root & Company LLC raised its stake in shares of West Fraser Timber by 24.0% during the fourth quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock worth $246,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Trading Down 0.7 %

WFG stock opened at $74.20 on Tuesday. West Fraser Timber Co. Ltd. has a 1-year low of $69.48 and a 1-year high of $102.40. The business's 50-day moving average price is $75.45 and its two-hundred day moving average price is $84.45. The firm has a market cap of $5.72 billion, a PE ratio of -353.33 and a beta of 1.21.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.15). West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.53 billion. On average, analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.73%. West Fraser Timber's dividend payout ratio (DPR) is -752.94%.

Analyst Upgrades and Downgrades

Several brokerages have commented on WFG. Royal Bank of Canada dropped their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. TD Securities cut their target price on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Scotiabank decreased their target price 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. Finally, Raymond James cut their price target on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $100.40.

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.

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