Manning & Napier Advisors LLC grew its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 2.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 875,815 shares of the company's stock after acquiring an additional 22,777 shares during the period. Manning & Napier Advisors LLC owned about 1.14% of West Fraser Timber worth $67,385,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of WFG. Atria Wealth Solutions Inc. boosted its holdings in shares of 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 acquiring an additional 120 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of West Fraser Timber by 4.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company's stock valued at $260,000 after acquiring an additional 121 shares during the period. Signaturefd LLC grew its stake in shares of West Fraser Timber by 22.5% in the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company's stock valued at $93,000 after acquiring an additional 198 shares in the last quarter. Principal Financial Group Inc. increased its position in West Fraser Timber by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 12,202 shares of the company's stock worth $1,057,000 after acquiring an additional 228 shares during the period. Finally, Inspire Advisors LLC raised its stake in West Fraser Timber by 5.7% in the 4th quarter. Inspire Advisors LLC now owns 4,491 shares of the company's stock worth $389,000 after purchasing an additional 244 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.
West Fraser Timber Stock Performance
Shares of West Fraser Timber stock traded up $1.82 on Monday, reaching $74.95. 159,408 shares of the stock were exchanged, compared to its average volume of 193,904. The firm has a market cap of $5.76 billion, a PE ratio of -440.86 and a beta of 1.17. The firm's 50 day moving average is $74.27 and its 200-day moving average is $79.75. West Fraser Timber Co. Ltd. has a one year low of $69.48 and a one year high of $102.40.
West Fraser Timber (NYSE:WFG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.15). The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a return on equity of 0.99% and a net margin of 0.03%. On average, equities research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.
West Fraser Timber Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Investors of record on Thursday, June 26th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.71%. West Fraser Timber's dividend payout ratio is currently -752.94%.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on WFG shares. Wall Street Zen raised shares of West Fraser Timber from a "sell" rating to a "hold" rating in a report on Saturday, June 7th. TD Securities reduced their price target on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Raymond James Financial dropped their price objective on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Royal Bank Of Canada reduced their target price on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $100.40.
Read Our Latest Report on WFG
About West Fraser Timber
(
Free Report)
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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