West Fraser Timber Co. Ltd. (NYSE:WFG) Holdings Boosted by US Bancorp DE

US Bancorp DE grew its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 82.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,284 shares of the company’s stock after purchasing an additional 582 shares during the period. US Bancorp DE’s holdings in West Fraser Timber were worth $125,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Park Place Capital Corp acquired a new position in West Fraser Timber in the 2nd quarter valued at approximately $31,000. Signaturefd LLC raised its holdings in shares of West Fraser Timber by 60.0% during the second quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Ensign Peak Advisors Inc acquired a new stake in West Fraser Timber during the second quarter valued at $44,000. UniSuper Management Pty Ltd grew its stake in West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $69,000 after purchasing an additional 400 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in West Fraser Timber in the first quarter valued at approximately $218,000. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Scotiabank lifted their target price on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. BMO Capital Markets upped their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price objective on West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, West Fraser Timber currently has a consensus rating of “Buy” and a consensus price target of $111.60.

West Fraser Timber Trading Down 0.9 %

Shares of NYSE WFG opened at $91.87 on Friday. The company has a fifty day moving average price of $94.64 and a 200 day moving average price of $85.93. The firm has a market cap of $7.37 billion, a PE ratio of -71.77 and a beta of 1.18. West Fraser Timber Co. Ltd. has a 1-year low of $72.35 and a 1-year high of $102.40.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same quarter in the prior year, the company earned $1.81 EPS. Equities research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.03%. West Fraser Timber’s dividend payout ratio (DPR) is presently -74.22%.

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, douglas fir-larch, hem-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.