Wells Fargo & Company MN Lowers Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Wells Fargo & Company MN lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,992 shares of the company’s stock after selling 195 shares during the period. Wells Fargo & Company MN’s holdings in West Fraser Timber were worth $692,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new stake in shares of West Fraser Timber in the fourth quarter worth $35,000. Kestra Investment Management LLC purchased a new stake in West Fraser Timber during the 4th quarter valued at about $39,000. Signaturefd LLC increased its stake in West Fraser Timber by 22.5% during the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock valued at $93,000 after purchasing an additional 198 shares in the last quarter. D.B. Root & Company LLC increased its stake in West Fraser Timber by 24.0% during the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock valued at $246,000 after purchasing an additional 549 shares in the last quarter. Finally, Atria Wealth Solutions Inc. raised its holdings 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 worth $250,000 after buying an additional 120 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Trading Up 0.6 %

Shares of WFG stock opened at $74.39 on Friday. The stock has a market capitalization of $5.74 billion, a P/E ratio of -354.23 and a beta of 1.21. The firm’s 50 day moving average is $75.61 and its 200 day moving average is $84.97. West Fraser Timber Co. Ltd. has a 12-month low of $69.48 and a 12-month high of $102.40.

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

West Fraser Timber Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.72%. The ex-dividend date was Friday, March 14th. West Fraser Timber’s payout ratio is currently -752.94%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WFG shares. Royal Bank of Canada reduced their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. 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 report on Tuesday, February 18th. Raymond James decreased their price target on West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, TD Securities dropped their price objective on West Fraser Timber from $99.00 to $98.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber has an average rating of “Buy” and a consensus target price of $100.40.

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.