West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC increased its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 6.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 233,128 shares of the company’s stock after purchasing an additional 14,662 shares during the quarter. Geode Capital Management LLC owned 0.29% of West Fraser Timber worth $22,499,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. 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 valued at $38,000 after acquiring an additional 186 shares during the last quarter. Ensign Peak Advisors Inc acquired a new position in shares of West Fraser Timber during the second quarter valued at approximately $44,000. US Bancorp DE increased its holdings in shares of West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after purchasing an additional 582 shares during the last quarter. D.B. Root & Company LLC acquired a new stake in shares of West Fraser Timber in the third quarter valued at approximately $223,000. Finally, Quantinno Capital Management LP acquired a new stake in shares of West Fraser Timber in the third quarter valued at approximately $258,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on WFG. Scotiabank increased their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. BMO Capital Markets increased 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. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $111.60.

West Fraser Timber Stock Performance

Shares of West Fraser Timber stock opened at $86.47 on Friday. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of -67.55 and a beta of 1.19. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The stock has a 50 day moving average of $92.58 and a 200 day moving average of $88.57.

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

West Fraser Timber Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th will be given a dividend of $0.32 per share. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Friday, December 27th. West Fraser Timber’s dividend payout ratio (DPR) is currently -100.00%.

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.