Grantham Mayo Van Otterloo & Co. LLC Trims Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Grantham Mayo Van Otterloo & Co. LLC cut its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 21.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 396,956 shares of the company’s stock after selling 105,467 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC owned about 0.51% of West Fraser Timber worth $34,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in shares of West Fraser Timber during the fourth quarter valued at about $35,000. Kestra Investment Management LLC acquired a new stake in West Fraser Timber in the 4th quarter valued at approximately $39,000. Signaturefd LLC raised its position in West Fraser Timber by 22.5% in the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock valued at $93,000 after purchasing an additional 198 shares during the period. D.B. Root & Company LLC lifted its stake in West Fraser Timber by 24.0% during the fourth quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock worth $246,000 after purchasing an additional 549 shares in the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in shares of West Fraser Timber by 4.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock worth $250,000 after buying an additional 120 shares during the period. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Price Performance

WFG stock opened at $73.52 on Friday. The business’s 50-day moving average is $79.87 and its two-hundred day moving average is $88.29. The firm has a market capitalization of $5.68 billion, a P/E ratio of -350.10 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 1 year low of $71.17 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, topping 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%. On average, analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Friday, March 14th were paid a dividend of $0.32 per share. The ex-dividend date was Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.74%. West Fraser Timber’s payout ratio is currently -609.52%.

Analyst Upgrades and Downgrades

WFG has been the topic of several research reports. Raymond James decreased their target price on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Scotiabank reduced their price target on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 18th. Finally, TD Securities dropped their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $106.00.

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.