Principal Financial Group Inc. raised its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 33.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,263 shares of the company's stock after buying an additional 4,061 shares during the period. Principal Financial Group Inc.'s holdings in West Fraser Timber were worth $1,249,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. FIL Ltd boosted its holdings in West Fraser Timber by 35.5% during the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company's stock worth $436,861,000 after purchasing an additional 1,319,843 shares during the last quarter. Norges Bank purchased a new stake in shares of West Fraser Timber in the 4th quarter worth about $81,605,000. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $187,126,000 after acquiring an additional 780,313 shares during the period. Bank of America Corp DE raised its stake in West Fraser Timber by 200.3% during the fourth quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock valued at $27,265,000 after purchasing an additional 210,107 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its stake in West Fraser Timber by 73.7% in the fourth quarter. Mackenzie Financial Corp now owns 304,826 shares of the company's stock worth $26,384,000 after acquiring an additional 129,378 shares during the period. Institutional investors and hedge funds own 40.23% of the company's stock.
West Fraser Timber Stock Performance
NYSE:WFG traded down $0.58 during mid-day trading on Friday, hitting $74.04. 254,542 shares of the company's stock traded hands, compared to its average volume of 173,398. The company has a market cap of $5.68 billion, a PE ratio of -435.53 and a beta of 1.15. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40. The firm's 50 day simple moving average is $74.73 and its 200 day simple moving average is $77.94.
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 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 earnings per share for the current fiscal year.
West Fraser Timber Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, July 14th. Investors of record on Thursday, June 26th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, June 26th. This represents a $1.28 annualized dividend and a yield of 1.73%. West Fraser Timber's dividend payout ratio (DPR) is currently -752.94%.
Analyst Ratings Changes
Several research firms have recently weighed in on WFG. Wall Street Zen lowered shares of West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday. 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 research report on Tuesday, April 22nd. Royal Bank Of Canada reduced their price target on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, TD Securities dropped 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. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, West Fraser Timber presently has an average rating of "Moderate Buy" and a consensus target price of $100.40.
Check Out Our Latest Stock Analysis on West Fraser Timber
West Fraser Timber Profile
(
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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