Alliancebernstein L.P. Sells 304 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Alliancebernstein L.P. trimmed its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 7.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,722 shares of the company’s stock after selling 304 shares during the period. Alliancebernstein L.P.’s holdings in West Fraser Timber were worth $322,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of WFG. Jane Street Group LLC raised its holdings in West Fraser Timber by 35.3% during the third quarter. Jane Street Group LLC now owns 26,422 shares of the company’s stock valued at $2,574,000 after buying an additional 6,891 shares in the last quarter. Barclays PLC lifted its holdings in West Fraser Timber by 10.0% in the 3rd quarter. Barclays PLC now owns 7,119 shares of the company’s stock worth $693,000 after purchasing an additional 647 shares during the last quarter. Geode Capital Management LLC boosted its position in West Fraser Timber by 6.7% during the third quarter. Geode Capital Management LLC now owns 233,128 shares of the company’s stock worth $22,499,000 after purchasing an additional 14,662 shares during the period. Tidal Investments LLC grew its holdings in West Fraser Timber by 311.2% during the third quarter. Tidal Investments LLC now owns 10,962 shares of the company’s stock valued at $1,067,000 after purchasing an additional 8,296 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of West Fraser Timber by 12.4% in the third quarter. Principal Financial Group Inc. now owns 11,974 shares of the company’s stock worth $1,168,000 after buying an additional 1,323 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WFG. TD Securities cut their price objective on West Fraser Timber from $110.00 to $99.00 and set a “buy” rating for the company in a research report on Thursday, April 17th. Raymond James reduced their price objective on 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, Scotiabank cut their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $103.80.

West Fraser Timber Trading Down 1.1 %

WFG opened at $72.49 on Tuesday. The stock has a market cap of $5.59 billion, a PE ratio of -345.19 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40. The stock’s 50 day simple moving average is $76.53 and its 200-day simple moving average is $86.21.

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

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Friday, March 14th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, March 14th. West Fraser Timber’s dividend payout ratio is -609.52%.

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.