Wealthquest Corp Acquires Shares of 28,434 West Fraser Timber Co. Ltd. (NYSE:WFG)

Wealthquest Corp bought a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 28,434 shares of the company's stock, valued at approximately $2,188,000. West Fraser Timber makes up about 0.2% of Wealthquest Corp's investment portfolio, making the stock its 26th largest position.

A number of other hedge funds and other institutional investors have also modified their holdings of WFG. Principal Financial Group Inc. lifted its stake in shares of West Fraser Timber by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 12,202 shares of the company's stock worth $1,057,000 after purchasing an additional 228 shares during the period. Atria Wealth Solutions Inc. lifted its position in 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 buying an additional 120 shares during the period. Bank of New York Mellon Corp boosted its stake in West Fraser Timber by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 59,526 shares of the company's stock worth $5,152,000 after buying an additional 10,841 shares during the last quarter. Metis Global Partners LLC increased its stake in shares of West Fraser Timber by 9.0% during the 4th quarter. Metis Global Partners LLC now owns 22,876 shares of the company's stock valued at $1,982,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Tacita Capital Inc purchased a new position in shares of West Fraser Timber during the 4th quarter worth about $412,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on WFG shares. Royal Bank Of Canada dropped their price target 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. 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. TD Securities reduced their target price on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Wall Street Zen upgraded West Fraser Timber from a "sell" rating to a "hold" rating in a research note on Saturday, June 7th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, West Fraser Timber presently has an average rating of "Moderate Buy" and an average target price of $100.40.

West Fraser Timber Price Performance

NYSE WFG traded down $0.93 during trading hours on Wednesday, hitting $73.83. The company had a trading volume of 193,549 shares, compared to its average volume of 179,874. The firm's 50 day moving average is $74.33 and its 200 day moving average is $79.59. West Fraser Timber Co. Ltd. has a fifty-two week low of $69.48 and a fifty-two week high of $102.40. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of -434.29 and a beta of 1.17.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued 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 company had revenue of $1.46 billion during the quarter, compared to analysts' expectations 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 analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Thursday, June 26th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, June 26th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.73%. 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.