Swiss National Bank Cuts Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Swiss National Bank cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFGFree Report) by 10.9% during the third quarter, Holdings Channel reports. The institutional investor owned 190,638 shares of the company’s stock after selling 23,400 shares during the quarter. Swiss National Bank’s holdings in West Fraser Timber were worth $13,958,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in West Fraser Timber by 1.5% in the first quarter. Vanguard Group Inc. now owns 3,212,954 shares of the company’s stock worth $264,845,000 after acquiring an additional 47,956 shares in the last quarter. Norges Bank bought a new stake in West Fraser Timber during the 4th quarter valued at about $116,809,000. Bridgewater Advisors Inc. purchased a new position in West Fraser Timber in the third quarter worth about $79,179,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of West Fraser Timber by 599.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 906,254 shares of the company’s stock worth $77,845,000 after buying an additional 776,605 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in West Fraser Timber by 124.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 696,637 shares of the company’s stock worth $49,630,000 after acquiring an additional 386,371 shares during the last quarter. Institutional investors own 46.23% of the company’s stock.

Analyst Ratings Changes

WFG has been the topic of several recent analyst reports. Scotiabank set a $100.00 price objective on West Fraser Timber and gave the company an “outperform” rating in a research report on Monday, January 22nd. Raymond James boosted their price objective on shares of West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. TheStreet raised shares of West Fraser Timber from a “d+” rating to a “c” rating in a research report on Friday, October 27th. Finally, Royal Bank of Canada decreased their target price 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. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $103.75.

View Our Latest Research Report on WFG

West Fraser Timber Price Performance

NYSE:WFG opened at $78.27 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.47 and a current ratio of 3.51. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $90.17. The business has a fifty day moving average price of $81.63 and a 200-day moving average price of $76.37.

West Fraser Timber Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.20 annualized dividend and a dividend yield of 1.53%. West Fraser Timber’s dividend payout ratio (DPR) is -85.11%.

West Fraser Timber Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for West Fraser Timber (NYSE:WFG)

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