Edmond DE Rothschild Holding S.A. Purchases 2,892 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Edmond DE Rothschild Holding S.A. boosted its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 31.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,976 shares of the company’s stock after purchasing an additional 2,892 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in West Fraser Timber were worth $1,037,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in West Fraser Timber in the 4th quarter valued at approximately $81,605,000. FMR LLC raised its stake in shares of West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after acquiring an additional 266,298 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of West Fraser Timber by 60.7% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company’s stock worth $27,453,000 after purchasing an additional 119,841 shares during the period. Manning & Napier Advisors LLC grew its stake in shares of West Fraser Timber by 14.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock worth $73,830,000 after purchasing an additional 109,447 shares during the last quarter. Finally, Alberta Investment Management Corp increased its holdings in West Fraser Timber by 58.7% in the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock valued at $25,452,000 after purchasing an additional 108,670 shares during the period. 40.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Scotiabank cut their target price on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 18th. TD Securities cut their price objective on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Raymond James reduced their target price on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $106.00.

West Fraser Timber Trading Up 1.5 %

WFG stock opened at $78.08 on Wednesday. West Fraser Timber Co. Ltd. has a 1-year low of $73.91 and a 1-year high of $102.40. The stock has a 50-day moving average price of $80.82 and a 200-day moving average price of $88.62. The firm has a market cap of $6.04 billion, a PE ratio of -371.80 and a beta of 1.23.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. On average, analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, March 14th. West Fraser Timber’s payout ratio is -609.52%.

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.