Legal & General Group Plc lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 253,835 shares of the company's stock after selling 116,444 shares during the period. Legal & General Group Plc owned approximately 0.33% of West Fraser Timber worth $21,982,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in West Fraser Timber by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company's stock worth $246,652,000 after purchasing an additional 12,874 shares during the period. Norges Bank purchased a new position in shares of West Fraser Timber in the fourth quarter worth $81,605,000. Manning & Napier Advisors LLC raised its holdings in West Fraser Timber by 14.7% during the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company's stock valued at $73,830,000 after buying an additional 109,447 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of West Fraser Timber by 6.3% in the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company's stock worth $52,565,000 after purchasing an additional 35,855 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of West Fraser Timber by 60.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company's stock worth $27,453,000 after buying an additional 119,841 shares during the last quarter. Institutional investors own 40.23% of the company's stock.
West Fraser Timber Stock Up 0.0 %
Shares of WFG stock traded up $0.02 during mid-day trading on Friday, reaching $73.31. 110,285 shares of the company's stock traded hands, compared to its average volume of 176,376. The company's 50-day moving average price is $76.99 and its 200-day moving average price is $86.72. The company has a market cap of $5.67 billion, a P/E ratio of -349.08 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 12 month low of $69.48 and a 12 month high of $102.40.
West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. Equities analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.
West Fraser Timber Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.75%. West Fraser Timber's dividend payout ratio is currently -609.52%.
Analysts Set New Price Targets
Several research analysts have commented on the stock. TD Securities decreased their price objective on shares of West Fraser Timber from $110.00 to $99.00 and set a "buy" rating for the company in a report on Thursday. Raymond James reduced their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank lowered their price objective on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, West Fraser Timber currently has an average rating of "Buy" and an average target price of $103.80.
Read Our Latest Stock Analysis 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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