Raymond James & Associates Trims Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Raymond James & Associates lowered its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,679 shares of the company’s stock after selling 473 shares during the period. Raymond James & Associates’ holdings in West Fraser Timber were worth $572,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in West Fraser Timber during the third quarter valued at approximately $112,000. Accurate Wealth Management LLC lifted its position in West Fraser Timber by 45.9% during the third quarter. Accurate Wealth Management LLC now owns 7,162 shares of the company’s stock valued at $498,000 after purchasing an additional 2,253 shares during the last quarter. Bridgewater Advisors Inc. bought a new stake in West Fraser Timber during the third quarter valued at approximately $79,179,000. Maryland State Retirement & Pension System lifted its position in West Fraser Timber by 3.0% during the third quarter. Maryland State Retirement & Pension System now owns 44,138 shares of the company’s stock valued at $3,206,000 after purchasing an additional 1,267 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in West Fraser Timber by 6.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 8,771 shares of the company’s stock valued at $636,000 after purchasing an additional 569 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Trading Up 0.3 %

NYSE:WFG opened at $78.91 on Friday. The company has a fifty day moving average of $81.42 and a 200 day moving average of $78.70. West Fraser Timber Co. Ltd. has a 52 week low of $64.11 and a 52 week high of $90.17. The company has a quick ratio of 1.45, a current ratio of 2.26 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $6.27 billion, a P/E ratio of -65.21 and a beta of 1.15.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.48. West Fraser Timber had a negative net margin of 1.39% and a positive return on equity of 2.34%. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period in the prior year, the business posted ($0.52) EPS. The firm’s revenue was up .0% compared to the same quarter last year. On average, research analysts predict that West Fraser Timber Co. Ltd. will post 3.66 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.52%. West Fraser Timber’s dividend payout ratio is currently -49.59%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Scotiabank set a $100.00 target price on shares of West Fraser Timber and gave the company an “outperform” rating in a research report on Monday, January 22nd. TD Securities boosted their price objective on shares of West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Raymond James boosted their price objective on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a report on Tuesday, February 6th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $97.00 price objective on shares of West Fraser Timber in a report on Thursday, March 28th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, West Fraser Timber has a consensus rating of “Buy” and an average target price of $106.25.

West Fraser Timber 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.