Credit Suisse AG trimmed its stake in West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) by 42.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 111,380 shares of the company’s stock after selling 82,512 shares during the period. Credit Suisse AG owned about 0.14% of West Fraser Timber worth $7,935,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ICA Group Wealth Management LLC acquired a new position in shares of West Fraser Timber in the fourth quarter valued at approximately $43,000. International Assets Investment Management LLC acquired a new position in shares of West Fraser Timber in the first quarter valued at approximately $93,000. Pacifica Partners Inc. grew its holdings in shares of West Fraser Timber by 29.5% in the first quarter. Pacifica Partners Inc. now owns 1,536 shares of the company’s stock valued at $110,000 after purchasing an additional 350 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of West Fraser Timber in the fourth quarter valued at approximately $179,000. Finally, Moors & Cabot Inc. grew its holdings in shares of West Fraser Timber by 8.4% in the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock valued at $208,000 after purchasing an additional 195 shares in the last quarter. 46.23% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Raymond James boosted their price target on shares of West Fraser Timber from $120.00 to $125.00 and gave the stock a “strong-buy” rating in a report on Thursday, July 27th. TD Securities boosted their price target on shares of West Fraser Timber from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, July 18th. CSFB boosted their price target on shares of West Fraser Timber from $106.50 to $108.50 and gave the stock an “outperform” rating in a report on Wednesday, August 23rd. Finally, Credit Suisse Group upped their target price on shares of West Fraser Timber from $106.50 to $109.00 and gave the company an “outperform” rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, West Fraser Timber has a consensus rating of “Buy” and an average target price of $113.13.
West Fraser Timber Trading Up 0.1 %
Shares of West Fraser Timber stock opened at $75.31 on Tuesday. The company has a fifty day simple moving average of $82.29 and a 200-day simple moving average of $77.21. West Fraser Timber Co. Ltd. has a 12-month low of $67.41 and a 12-month high of $96.39. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.31 and a current ratio of 3.55.
West Fraser Timber (NYSE:WFG – Get Free Report) last issued its earnings results on Wednesday, July 26th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.09. West Fraser Timber had a negative net margin of 0.74% and a positive return on equity of 1.03%. The business had revenue of $1.61 billion during the quarter. As a group, equities analysts expect that West Fraser Timber Co. Ltd. will post 1.56 earnings per share for the current year.
West Fraser Timber Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, July 7th. Investors of record on Wednesday, June 21st were given a $0.30 dividend. The ex-dividend date was Tuesday, June 20th. This represents a $1.20 annualized dividend and a yield of 1.59%. West Fraser Timber’s dividend payout ratio (DPR) is -166.66%.
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 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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