Geode Capital Management LLC Purchases 73,335 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Geode Capital Management LLC grew its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 306,463 shares of the company's stock after buying an additional 73,335 shares during the quarter. Geode Capital Management LLC owned 0.39% of West Fraser Timber worth $26,409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in WFG. Atria Wealth Solutions Inc. grew 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 valued at $250,000 after buying an additional 120 shares during the period. Avantax Advisory Services Inc. raised its holdings in West Fraser Timber by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company's stock worth $260,000 after purchasing an additional 121 shares during the period. Signaturefd LLC grew its holdings in West Fraser Timber by 22.5% during the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company's stock valued at $93,000 after purchasing an additional 198 shares during the period. Principal Financial Group Inc. lifted its position 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 valued at $1,057,000 after buying an additional 228 shares in the last quarter. Finally, Inspire Advisors LLC raised its stake in West Fraser Timber by 5.7% during the 4th quarter. Inspire Advisors LLC now owns 4,491 shares of the company's stock worth $389,000 after acquiring an additional 244 shares during the period. Institutional investors own 40.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WFG. Scotiabank dropped their price objective on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a research note on Tuesday, February 18th. Royal Bank of Canada dropped their target price 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. TD Securities reduced their price target on shares of West Fraser Timber from $110.00 to $99.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Finally, Raymond James dropped their price objective on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $100.60.

West Fraser Timber Stock Up 0.1 %

West Fraser Timber stock traded up $0.11 during mid-day trading on Wednesday, reaching $74.66. 92,210 shares of the company's stock traded hands, compared to its average volume of 205,297. The stock has a 50 day moving average of $76.41 and a two-hundred day moving average of $86.13. West Fraser Timber Co. Ltd. has a 12-month low of $69.48 and a 12-month high of $102.40. The company has a market cap of $5.76 billion, a price-to-earnings ratio of -355.52 and a beta of 1.21.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber's payout ratio is -609.52%.

West Fraser Timber Company 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.