West Fraser Timber Co. Ltd. (NYSE:WFG) Stock Position Reduced by Van ECK Associates Corp

Van ECK Associates Corp decreased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,957 shares of the company’s stock after selling 12,795 shares during the quarter. Van ECK Associates Corp’s holdings in West Fraser Timber were worth $15,668,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of WFG. Creative Planning raised its holdings in shares of West Fraser Timber by 69.8% during the third quarter. Creative Planning now owns 7,059 shares of the company’s stock worth $687,000 after acquiring an additional 2,901 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of West Fraser Timber by 77.4% during the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after buying an additional 384 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of West Fraser Timber in the 3rd quarter valued at approximately $12,370,000. DekaBank Deutsche Girozentrale increased its holdings in West Fraser Timber by 1.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company’s stock worth $3,285,000 after buying an additional 532 shares during the last quarter. Finally, US Bancorp DE raised its position in West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after acquiring an additional 582 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Performance

Shares of NYSE:WFG opened at $79.96 on Friday. The stock’s 50-day moving average is $87.40 and its 200-day moving average is $90.67. The company has a market cap of $6.21 billion, a P/E ratio of -62.47 and a beta of 1.22. West Fraser Timber Co. Ltd. has a 52-week low of $73.91 and a 52-week high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. As a group, equities analysts predict that West Fraser Timber Co. Ltd. will post 1.59 EPS for the current year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be given a $0.32 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.28 annualized dividend and a yield of 1.60%. West Fraser Timber’s dividend payout ratio is -100.00%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. BMO Capital Markets increased their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank cut their target price on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. Raymond James decreased their price target on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, TD Securities cut their price objective on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $107.80.

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.