West Fraser Timber Co. Ltd. (NYSE:WFG) Stock Holdings Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 83.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,617 shares of the company's stock after selling 23,301 shares during the quarter. Assenagon Asset Management S.A.'s holdings in West Fraser Timber were worth $355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WFG. FIL Ltd increased its holdings in West Fraser Timber by 35.5% in the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company's stock valued at $436,861,000 after buying an additional 1,319,843 shares during the last quarter. Norges Bank bought a new stake in West Fraser Timber in the fourth quarter valued at about $81,605,000. Price T Rowe Associates Inc. MD increased its holdings in West Fraser Timber by 56.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock valued at $187,126,000 after buying an additional 780,313 shares during the last quarter. Bank of America Corp DE increased its holdings in West Fraser Timber by 200.3% in the fourth quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock valued at $27,265,000 after buying an additional 210,107 shares during the last quarter. Finally, Mackenzie Financial Corp increased its holdings in West Fraser Timber by 73.7% in the fourth quarter. Mackenzie Financial Corp now owns 304,826 shares of the company's stock valued at $26,384,000 after buying an additional 129,378 shares during the last quarter. 40.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on WFG shares. TD Securities lowered their price objective on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Raymond James Financial decreased their target price on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Wall Street Zen upgraded West Fraser Timber from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Finally, Royal Bank Of Canada cut their target price on 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $100.40.

West Fraser Timber Stock Performance

Shares of NYSE WFG traded up $2.57 during trading on Monday, hitting $75.70. The company had a trading volume of 345,022 shares, compared to its average volume of 179,484. The company has a market cap of $5.82 billion, a P/E ratio of -445.26 and a beta of 1.17. West Fraser Timber Co. Ltd. has a 52 week low of $69.48 and a 52 week high of $102.40. The business's 50-day moving average is $74.30 and its 200 day moving average is $79.62.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). The company had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a net margin of 0.03% and a return on equity of 0.99%. On average, research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Shareholders of record on Thursday, June 26th will be issued a $0.32 dividend. The ex-dividend date is Thursday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.69%. West Fraser Timber's dividend payout ratio is currently -752.94%.

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.