Assenagon Asset Management S.A. Has $2.42 Million Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Assenagon Asset Management S.A. trimmed its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,918 shares of the company’s stock after selling 1,102 shares during the quarter. Assenagon Asset Management S.A.’s holdings in West Fraser Timber were worth $2,418,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Toronto Dominion Bank lifted its stake in West Fraser Timber by 0.4% in the 2nd quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock worth $2,309,000 after acquiring an additional 125 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of West Fraser Timber by 3.5% in the 3rd quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock valued at $430,000 after purchasing an additional 150 shares during the period. CIBC Asset Management Inc lifted its position in shares of West Fraser Timber by 0.4% in the third quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock worth $6,966,000 after purchasing an additional 311 shares in the last quarter. Signaturefd LLC boosted its stake in shares of West Fraser Timber by 77.4% during the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after buying an additional 384 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in shares of West Fraser Timber by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company’s stock worth $3,285,000 after acquiring an additional 532 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $90.75 on Thursday. The business’s 50-day simple moving average is $90.53 and its 200-day simple moving average is $89.92. West Fraser Timber Co. Ltd. has a 52 week low of $73.91 and a 52 week high of $102.40. The firm has a market cap of $7.05 billion, a price-to-earnings ratio of -70.90 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the prior year, the business earned $1.81 EPS. As a group, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current year.

West Fraser Timber Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 27th. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a yield of 1.41%. West Fraser Timber’s dividend payout ratio (DPR) is presently -100.00%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on WFG. BMO Capital Markets boosted their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank increased their price objective on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a report on Friday, October 25th. Finally, Raymond James cut shares of West Fraser Timber from a “strong-buy” rating to a “moderate buy” rating and reduced their target price for the company from $120.00 to $115.00 in a research note on Monday. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $113.60.

West Fraser Timber Company 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, 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.