Renaissance Technologies LLC Sells 8,200 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Renaissance Technologies LLC cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 48.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,800 shares of the company's stock after selling 8,200 shares during the quarter. Renaissance Technologies LLC's holdings in West Fraser Timber were worth $762,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in WFG. Headlands Technologies LLC bought a new stake in shares of West Fraser Timber during the 4th quarter valued at $35,000. Kestra Investment Management LLC bought a new position in West Fraser Timber during the fourth quarter worth about $39,000. Signaturefd LLC boosted 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 worth $93,000 after buying an additional 198 shares during the last quarter. D.B. Root & Company LLC grew its position in shares of West Fraser Timber by 24.0% during the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock worth $246,000 after buying an additional 549 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in shares of West Fraser Timber by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock valued at $250,000 after acquiring an additional 120 shares during the period. 40.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

WFG has been the topic of a number of research reports. Scotiabank cut their price target on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a report on Tuesday, February 18th. TD Securities dropped their price target on 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. Royal Bank of Canada reduced their price objective on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Raymond James decreased their price target on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $100.40.

West Fraser Timber Stock Up 0.1 %

NYSE:WFG traded up $0.08 during midday trading on Wednesday, hitting $74.18. The company had a trading volume of 134,498 shares, compared to its average volume of 174,699. The company has a market capitalization of $5.72 billion, a PE ratio of -353.24 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 52-week low of $69.48 and a 52-week high of $102.40. The stock's fifty day moving average price is $75.25 and its 200-day moving average price is $84.31.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.15). The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. As a group, research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were issued a dividend of $0.32 per share. The ex-dividend date was Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. West Fraser Timber's payout ratio is -752.94%.

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.