Candriam Luxembourg S.C.A. bought a new position in West Fraser Timber Co. Ltd. (NYSE:WFG) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,505 shares of the company’s stock, valued at approximately $295,000.
Several other large investors have also recently made changes to their positions in WFG. Gulf International Bank UK Ltd raised its position in shares of West Fraser Timber by 16.2% in the 2nd quarter. Gulf International Bank UK Ltd now owns 1,365 shares of the company’s stock worth $97,000 after acquiring an additional 190 shares in the last quarter. Van ECK Associates Corp increased its position in West Fraser Timber by 54.6% during the 2nd quarter. Van ECK Associates Corp now owns 1,697 shares of the company’s stock valued at $122,000 after buying an additional 599 shares in the last quarter. Moors & Cabot Inc. bought a new position in West Fraser Timber during the 3rd quarter valued at approximately $130,000. Ossiam bought a new position in West Fraser Timber during the 2nd quarter valued at approximately $151,000. Finally, Baker Tilly Wealth Management LLC bought a new position in West Fraser Timber during the 3rd quarter valued at approximately $216,000. 55.84% of the stock is owned by hedge funds and other institutional investors.
NYSE:WFG opened at $97.27 on Friday. The business’s 50-day simple moving average is $88.74 and its two-hundred day simple moving average is $81.40. The stock has a market cap of $10.11 billion and a PE ratio of 3.53. West Fraser Timber Co. Ltd. has a 52 week low of $58.99 and a 52 week high of $101.83.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 11th. Shareholders of record on Tuesday, December 28th were issued a dividend of $0.156 per share. The ex-dividend date was Monday, December 27th. This represents a $0.62 dividend on an annualized basis and a yield of 0.64%. West Fraser Timber’s dividend payout ratio is presently 2.90%.
A number of research firms recently weighed in on WFG. Scotiabank raised their price objective on West Fraser Timber from C$137.00 to C$143.00 in a research report on Wednesday. Zacks Investment Research raised West Fraser Timber from a “hold” rating to a “strong-buy” rating and set a $101.00 price objective for the company in a research report on Friday, December 17th. Raymond James raised their price objective on West Fraser Timber from C$170.00 to C$175.00 and gave the company a “strong-buy” rating in a research report on Wednesday, October 13th. CIBC upgraded West Fraser Timber from a “neutral” rating to a “buy” rating and set a $118.60 target price on the stock in a research note on Monday, January 10th. Finally, TD Securities downgraded West Fraser Timber from an “action list buy” rating to a “buy” rating and set a C$110.00 target price on the stock. in a research note on Monday, October 25th. They noted that the move was a valuation call. Five analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $129.51.
West Fraser Timber Profile
West Fraser Timber Co Ltd. is a diversified wood products company, which engages in producing lumber, engineered wood products (oriented strand board, laminated veneer lumber, medium density fiberboard, plywood, and particleboard), pulp, newsprint, wood chips, other residuals and renewable energy. Its products are used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.
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