West Fraser Timber (NYSE:WFG) Coverage Initiated at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of West Fraser Timber (NYSE:WFGGet Rating) in a report issued on Tuesday morning, The Fly reports. The brokerage issued a neutral rating and a $100.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. CIBC cut West Fraser Timber from an outperform rating to a neutral rating in a research note on Monday, October 3rd. Raymond James lowered West Fraser Timber from a strong-buy rating to an outperform rating in a research report on Monday, October 24th.

West Fraser Timber Trading Up 1.0 %

Shares of WFG stock opened at $84.69 on Tuesday. The stock has a market cap of $7.01 billion, a price-to-earnings ratio of 3.61 and a beta of 0.81. The stock has a 50-day moving average of $76.64 and a 200-day moving average of $83.65. The company has a current ratio of 3.36, a quick ratio of 2.21 and a debt-to-equity ratio of 0.06. West Fraser Timber has a 1-year low of $69.51 and a 1-year high of $102.96.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Thursday, September 22nd were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, September 21st. This represents a $1.20 annualized dividend and a dividend yield of 1.42%. West Fraser Timber’s payout ratio is 5.11%.

Institutional Investors Weigh In On West Fraser Timber

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC bought a new stake in shares of West Fraser Timber during the 2nd quarter valued at about $49,000. Pacifica Partners Inc. boosted its holdings in West Fraser Timber by 25.7% in the second quarter. Pacifica Partners Inc. now owns 1,466 shares of the company’s stock worth $111,000 after acquiring an additional 300 shares in the last quarter. Lazard Asset Management LLC bought a new position in West Fraser Timber in the second quarter worth approximately $114,000. SG Americas Securities LLC bought a new position in West Fraser Timber in the third quarter worth approximately $159,000. Finally, Steward Partners Investment Advisory LLC boosted its holdings in West Fraser Timber by 684.3% in the first quarter. Steward Partners Investment Advisory LLC now owns 1,945 shares of the company’s stock worth $160,000 after acquiring an additional 1,697 shares in the last quarter. Institutional investors own 51.37% of the company’s stock.

West Fraser Timber Company Profile

(Get Rating)

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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