Renaissance Technologies LLC Has $762,000 Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Renaissance Technologies LLC trimmed its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 48.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,800 shares of the company’s stock after selling 8,200 shares during the quarter. Renaissance Technologies LLC’s holdings in West Fraser Timber were worth $762,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atria Wealth Solutions Inc. lifted its stake in West Fraser Timber by 4.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after buying an additional 120 shares during the period. Avantax Advisory Services Inc. boosted its stake in West Fraser Timber by 4.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock worth $260,000 after acquiring an additional 121 shares in the last quarter. Signaturefd LLC boosted its stake in West Fraser Timber by 22.5% during the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock worth $93,000 after acquiring an additional 198 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 228 shares during the period. Finally, Inspire Advisors LLC increased its stake in West Fraser Timber by 5.7% in the fourth quarter. Inspire Advisors LLC now owns 4,491 shares of the company’s stock valued at $389,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on WFG shares. Scotiabank reduced their target price on 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. Raymond James decreased their price objective on West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada lowered their target price on West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, TD Securities reduced their price target on shares of West Fraser Timber from $99.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $100.40.

West Fraser Timber Stock Up 0.6 %

Shares of West Fraser Timber stock opened at $74.39 on Friday. The company has a market cap of $5.74 billion, a PE ratio of -354.23 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 52 week low of $69.48 and a 52 week high of $102.40. The business has a 50 day moving average price of $75.61 and a 200-day moving average price of $84.97.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.15). The company had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. As a group, research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were paid a $0.32 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.28 annualized dividend and a yield of 1.72%. West Fraser Timber’s dividend payout ratio (DPR) is -752.94%.

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.