West Fraser Timber Co. Ltd. (NYSE:WFG) Stock Position Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 22.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,526 shares of the company’s stock after acquiring an additional 10,841 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.08% of West Fraser Timber worth $5,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Union Bancaire Privee UBP SA acquired a new stake in West Fraser Timber during the fourth quarter worth about $1,040,000. Alberta Investment Management Corp raised its position in shares of West Fraser Timber by 58.7% during the 4th quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock worth $25,452,000 after purchasing an additional 108,670 shares during the period. Kestra Investment Management LLC acquired a new stake in shares of West Fraser Timber during the 4th quarter worth approximately $39,000. Atria Wealth Solutions Inc. grew its stake in West Fraser Timber by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock worth $250,000 after buying an additional 120 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in West Fraser Timber by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock worth $1,057,000 after buying an additional 228 shares during the period. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Price Performance

WFG stock opened at $77.32 on Tuesday. The firm has a market cap of $5.98 billion, a PE ratio of -368.20 and a beta of 1.23. West Fraser Timber Co. Ltd. has a 12 month low of $73.91 and a 12 month high of $102.40. The firm has a 50 day simple moving average of $83.13 and a 200 day simple moving average of $89.44.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.66%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is currently -609.52%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Scotiabank lowered their price target on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 18th. Raymond James decreased their target price on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, TD Securities cut their price target on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $106.00.

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.