Vontobel Holding Ltd. increased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,008,770 shares of the company's stock after buying an additional 53,002 shares during the quarter. Vontobel Holding Ltd. owned 1.27% of West Fraser Timber worth $86,306,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of West Fraser Timber by 1.5% during the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company's stock worth $202,065,000 after acquiring an additional 39,929 shares during the last quarter. Bank of Nova Scotia Trust Co. raised its position in shares of West Fraser Timber by 16.3% during the third quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company's stock worth $236,000 after acquiring an additional 455 shares during the last quarter. Hudson Bay Capital Management LP raised its position in shares of West Fraser Timber by 47.6% during the third quarter. Hudson Bay Capital Management LP now owns 155,000 shares of the company's stock worth $11,244,000 after acquiring an additional 50,000 shares during the last quarter. Qube Research & Technologies Ltd bought a new position in shares of West Fraser Timber during the third quarter worth about $1,798,000. Finally, Royal Bank of Canada grew its stake in West Fraser Timber by 9.0% during the third quarter. Royal Bank of Canada now owns 2,319,488 shares of the company's stock worth $168,256,000 after purchasing an additional 191,613 shares during the period. 40.23% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Raymond James raised their price objective on West Fraser Timber from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research note on Tuesday, February 6th. Scotiabank set a $100.00 price objective on West Fraser Timber and gave the company an "outperform" rating in a research note on Monday, January 22nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $97.00 target price on shares of West Fraser Timber in a research report on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $104.92.
Read Our Latest Stock Analysis on West Fraser Timber
West Fraser Timber Stock Performance
West Fraser Timber stock traded down $2.57 during mid-day trading on Friday, reaching $79.13. 201,221 shares of the company's stock were exchanged, compared to its average volume of 162,071. The business's fifty day simple moving average is $81.37 and its 200 day simple moving average is $78.32. The firm has a market capitalization of $6.29 billion, a PE ratio of -36.80 and a beta of 1.15. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $90.17. The company has a quick ratio of 1.45, a current ratio of 2.26 and a debt-to-equity ratio of 0.03.
West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.28) by $0.05. The business had revenue of $1.51 billion for the quarter. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. On average, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.1 earnings per share for the current year.
West Fraser Timber Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. West Fraser Timber's payout ratio is presently -27.91%.
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.
Further Reading
Before you consider West Fraser Timber, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and West Fraser Timber wasn't on the list.
While West Fraser Timber currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.
Get This Free Report
