Principal Financial Group Inc. grew its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) by 20.5% during the 1st quarter, HoldingsChannel reports. The firm owned 51,964 shares of the company’s stock after buying an additional 8,836 shares during the period. Principal Financial Group Inc.’s holdings in West Fraser Timber were worth $3,383,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of WFG. EFG International AG acquired a new stake in shares of West Fraser Timber in the fourth quarter valued at about $31,000. Physician Wealth Advisors Inc. boosted its position in West Fraser Timber by 177.0% during the first quarter. Physician Wealth Advisors Inc. now owns 579 shares of the company’s stock worth $38,000 after acquiring an additional 370 shares during the last quarter. Jain Global LLC purchased a new stake in West Fraser Timber during the 3rd quarter valued at about $224,000. Sei Investments Co. raised its holdings in West Fraser Timber by 29.8% in the 2nd quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock valued at $291,000 after acquiring an additional 912 shares during the last quarter. Finally, Brooklyn Investment Group acquired a new stake in West Fraser Timber in the 3rd quarter valued at about $321,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.
West Fraser Timber Stock Down 1.2%
Shares of WFG opened at $66.63 on Thursday. The company’s 50-day moving average price is $67.58 and its 200 day moving average price is $66.80. West Fraser Timber Co. Ltd. has a 12-month low of $57.34 and a 12-month high of $76.99. The company has a current ratio of 1.84, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. The firm has a market cap of $5.22 billion, a P/E ratio of -4.43 and a beta of 1.00.
West Fraser Timber Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 13th. Stockholders of record on Thursday, June 25th were issued a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, June 25th. West Fraser Timber’s dividend payout ratio is currently -8.51%.
Analyst Ratings Changes
WFG has been the topic of several recent research reports. Fraser Mackenzie lowered their target price on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Friday, July 17th. TD Securities reiterated a “buy” rating and set a $86.00 price objective on shares of West Fraser Timber in a research report on Friday, May 1st. Royal Bank Of Canada boosted their price objective on West Fraser Timber from $80.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Finally, Raymond James Financial cut West Fraser Timber from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $85.00 to $75.00 in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $83.60.
Read Our Latest Report on West Fraser Timber
About West Fraser Timber
West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.
Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.
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