Amundi Sells 23,924 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Amundi cut its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 196,575 shares of the company’s stock after selling 23,924 shares during the period. Amundi owned approximately 0.25% of West Fraser Timber worth $16,770,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Smead Capital Management Inc. grew its stake in shares of West Fraser Timber by 5.1% in the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock worth $11,507,000 after acquiring an additional 5,743 shares during the period. Alberta Investment Management Corp grew its position in West Fraser Timber by 58.7% in the 4th quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock worth $25,452,000 after purchasing an additional 108,670 shares during the period. Vontobel Holding Ltd. raised its stake in West Fraser Timber by 6.3% during the 4th quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock valued at $52,565,000 after buying an additional 35,855 shares during the last quarter. Tacita Capital Inc bought a new position in shares of West Fraser Timber during the 4th quarter valued at $412,000. Finally, Janus Henderson Group PLC boosted its stake in shares of West Fraser Timber by 383.7% in the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock worth $7,296,000 after buying an additional 59,347 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Stock Up 1.0 %

NYSE WFG opened at $76.37 on Friday. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40. The business has a 50-day moving average price of $83.80 and a 200-day moving average price of $89.69. The firm has a market cap of $5.91 billion, a price-to-earnings ratio of -363.67 and a beta of 1.23.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data 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%. Research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

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 paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.68%. The ex-dividend date is Friday, March 14th. West Fraser Timber’s payout ratio is currently -609.52%.

Analyst Ratings Changes

Several brokerages have issued reports on WFG. Raymond James dropped their target price on 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. TD Securities decreased their price target on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Scotiabank cut 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 research 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 a consensus rating of “Buy” and an average target price of $106.00.

West Fraser Timber 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.