Shell Asset Management Co. lessened its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) by 14.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,380 shares of the company’s stock after selling 1,220 shares during the quarter. Shell Asset Management Co.’s holdings in West Fraser Timber were worth $608,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in shares of West Fraser Timber during the 4th quarter valued at $33,000. Pacifica Partners Inc. boosted its holdings in shares of West Fraser Timber by 42.9% during the 1st quarter. Pacifica Partners Inc. now owns 1,166 shares of the company’s stock valued at $115,000 after acquiring an additional 350 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of West Fraser Timber by 684.3% during the 1st quarter. Steward Partners Investment Advisory LLC now owns 1,945 shares of the company’s stock valued at $160,000 after acquiring an additional 1,697 shares in the last quarter. Copperwynd Financial LLC acquired a new stake in shares of West Fraser Timber during the 4th quarter valued at $216,000. Finally, Advisor Group Holdings Inc. boosted its holdings in shares of West Fraser Timber by 20.7% during the 4th quarter. Advisor Group Holdings Inc. now owns 2,288 shares of the company’s stock valued at $219,000 after acquiring an additional 393 shares in the last quarter. Institutional investors and hedge funds own 74.44% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Scotiabank cut their target price on West Fraser Timber from C$157.00 to C$143.00 in a report on Friday, June 17th. TD Securities lifted their target price on West Fraser Timber from $105.00 to $120.00 and gave the stock a “buy” rating in a report on Wednesday, July 20th.
West Fraser Timber Stock Performance
West Fraser Timber (NYSE:WFG – Get Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $7.59 earnings per share for the quarter, missing the consensus estimate of $8.17 by ($0.58). West Fraser Timber had a return on equity of 33.60% and a net margin of 25.46%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same period last year, the business posted $12.32 earnings per share. The business’s revenue was down 23.6% on a year-over-year basis. As a group, equities research analysts expect that West Fraser Timber Co. Ltd. will post 26.46 earnings per share for the current year.
West Fraser Timber Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 8th. Stockholders of record on Wednesday, June 22nd were given a $0.30 dividend. The ex-dividend date was Tuesday, June 21st. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a dividend yield of 1.28%. West Fraser Timber’s dividend payout ratio (DPR) is 4.77%.
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 and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.
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