Pinebridge Investments L.P. Lowers Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Pinebridge Investments L.P. lowered its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,683 shares of the company’s stock after selling 810 shares during the quarter. Pinebridge Investments L.P.’s holdings in West Fraser Timber were worth $925,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Atria Wealth Solutions Inc. boosted its holdings in West Fraser Timber by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after purchasing an additional 120 shares in the last quarter. Avantax Advisory Services Inc. boosted its holdings in West Fraser Timber by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock valued at $260,000 after purchasing an additional 121 shares in the last quarter. Signaturefd LLC boosted its holdings in West Fraser Timber by 22.5% in 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. Principal Financial Group Inc. boosted its holdings in West Fraser Timber by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock valued at $1,057,000 after purchasing an additional 228 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in shares of West Fraser Timber by 5.7% during the 4th quarter. Inspire Advisors LLC now owns 4,491 shares of the company’s stock valued at $389,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on WFG shares. Scotiabank reduced their price target on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 18th. 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. 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. Finally, Raymond James reduced their price target on shares of West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $100.40.

West Fraser Timber Price Performance

Shares of West Fraser Timber stock opened at $74.94 on Tuesday. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40. The company has a market capitalization of $5.78 billion, a P/E ratio of -356.86 and a beta of 1.21. The business has a 50 day moving average price of $75.91 and a 200 day moving average price of $85.31.

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

West Fraser Timber Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were issued 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 1.71%. West Fraser Timber’s dividend payout ratio (DPR) is presently -752.94%.

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.