Skandinaviska Enskilda Banken AB publ Grows Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Skandinaviska Enskilda Banken AB publ increased its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,744 shares of the company’s stock after buying an additional 580 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in West Fraser Timber were worth $839,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of West Fraser Timber by 12.4% in the 3rd quarter. Principal Financial Group Inc. now owns 11,974 shares of the company’s stock valued at $1,168,000 after acquiring an additional 1,323 shares in the last quarter. CIBC Asset Management Inc increased its position in shares of West Fraser Timber by 0.4% in the third quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock worth $6,966,000 after purchasing an additional 311 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in West Fraser Timber by 37.1% in the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock valued at $91,429,000 after purchasing an additional 254,220 shares in the last quarter. Smead Capital Management Inc. lifted its position in West Fraser Timber by 5.1% during the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock valued at $11,507,000 after purchasing an additional 5,743 shares during the last quarter. Finally, PCJ Investment Counsel Ltd. purchased a new position in West Fraser Timber in the 3rd quarter worth approximately $974,000. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Up 1.0 %

NYSE:WFG opened at $77.32 on Tuesday. The firm has a market capitalization of $5.98 billion, a P/E ratio of -368.20 and a beta of 1.23. The company has a fifty day moving average of $83.13 and a 200 day moving average of $89.44. West Fraser Timber Co. Ltd. has a 52 week low of $73.91 and a 52 week high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share 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%. As a group, analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be given a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.66%. West Fraser Timber’s dividend payout ratio is currently -609.52%.

Analyst Ratings Changes

Several analysts have recently weighed in on WFG shares. Raymond James lowered their price objective on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. TD Securities lowered their price target on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Scotiabank cut their price objective 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $106.00.

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.