Moors & Cabot Inc. cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,525 shares of the company’s stock after selling 400 shares during the period. Moors & Cabot Inc.’s holdings in West Fraser Timber were worth $256,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in WFG. ICA Group Wealth Management LLC acquired a new position in West Fraser Timber in the 4th quarter valued at about $43,000. EverSource Wealth Advisors LLC increased its stake in shares of West Fraser Timber by 136.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 984 shares of the company’s stock valued at $85,000 after acquiring an additional 567 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of West Fraser Timber during the 3rd quarter valued at about $112,000. Two Sigma Advisers LP acquired a new position in shares of West Fraser Timber during the 3rd quarter valued at about $210,000. Finally, Advisor Group Holdings Inc. increased its stake in shares of West Fraser Timber by 15.0% during the 1st quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock valued at $217,000 after acquiring an additional 344 shares during the last quarter. 46.23% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on WFG shares. TheStreet raised shares of West Fraser Timber from a “d+” rating to a “c” rating in a research note on Friday, October 27th. Royal Bank of Canada dropped their price objective on shares of West Fraser Timber from $95.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, December 19th. Scotiabank set a $100.00 target price on shares of West Fraser Timber and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Finally, Raymond James increased their target price on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research report on Tuesday. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $103.75.
West Fraser Timber Price Performance
West Fraser Timber stock opened at $77.15 on Wednesday. The company has a current ratio of 3.51, a quick ratio of 2.47 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $81.43 and a 200-day moving average of $76.60. West Fraser Timber Co. Ltd. has a 52 week low of $64.11 and a 52 week high of $90.17.
West Fraser Timber Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Thursday, December 28th. West Fraser Timber’s dividend payout ratio (DPR) is currently -85.11%.
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 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.
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