Principal Financial Group Inc. Purchases 4,061 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Principal Financial Group Inc. increased its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 33.3% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 16,263 shares of the company's stock after purchasing 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 reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. FIL Ltd boosted its position in West Fraser Timber by 35.5% in the 4th 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 period. Norges Bank purchased a new stake in shares of West Fraser Timber during the 4th quarter worth $81,605,000. Price T Rowe Associates Inc. MD raised its stake in West Fraser Timber by 56.5% during the 4th 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 in the last quarter. Bank of America Corp DE raised its stake in West Fraser Timber by 200.3% during the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock worth $27,265,000 after acquiring an additional 210,107 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in West Fraser Timber by 73.7% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Price Performance

West Fraser Timber stock traded up $0.55 during midday trading on Wednesday, reaching $75.57. The stock had a trading volume of 251,684 shares, compared to its average volume of 176,163. West Fraser Timber Co. Ltd. has a twelve month low of $69.48 and a twelve month high of $102.40. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of -444.51 and a beta of 1.15. The firm's fifty day simple moving average is $74.68 and its two-hundred day simple moving average is $77.74.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share for the quarter, missing analysts' consensus estimates of $1.07 by ($1.45). West Fraser Timber had a net margin of 0.03% and a return on equity of 0.99%. As a group, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 14th. Shareholders 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 dividend on an annualized basis and a yield of 1.69%. West Fraser Timber's dividend payout ratio (DPR) is presently -752.94%.

Wall Street Analyst Weigh In

WFG has been the topic of a number of recent research reports. Wall Street Zen lowered shares of West Fraser Timber from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. 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 research note on Tuesday, April 22nd. TD Securities reduced their price objective on shares of 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. Finally, Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, West Fraser Timber presently has an average rating of "Moderate Buy" and a consensus price target 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.