Massachusetts Financial Services Co. MA Sells 178 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Massachusetts Financial Services Co. MA lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.9% in the 4th quarter, Holdings Channel reports. The firm owned 20,416 shares of the company’s stock after selling 178 shares during the period. Massachusetts Financial Services Co. MA’s holdings in West Fraser Timber were worth $1,767,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Alberta Investment Management Corp grew its holdings in West Fraser Timber by 58.7% during the 4th quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock valued at $25,452,000 after buying an additional 108,670 shares in the last quarter. Vontobel Holding Ltd. increased its position in West Fraser Timber by 6.3% in the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock worth $52,565,000 after purchasing an additional 35,855 shares during the last quarter. Tacita Capital Inc purchased a new stake in West Fraser Timber during the fourth quarter valued at $412,000. Janus Henderson Group PLC lifted its position in West Fraser Timber by 383.7% during the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock valued at $7,296,000 after purchasing an additional 59,347 shares during the last quarter. Finally, Manning & Napier Advisors LLC increased its holdings in shares of West Fraser Timber by 14.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock worth $73,830,000 after buying an additional 109,447 shares during the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on WFG shares. Raymond James dropped their price target on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Scotiabank dropped 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. Finally, TD Securities decreased their price target on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $106.00.

West Fraser Timber Price Performance

Shares of NYSE:WFG opened at $70.99 on Wednesday. The firm has a market capitalization of $5.49 billion, a PE ratio of -338.06 and a beta of 1.21. The business has a 50 day simple moving average of $78.79 and a two-hundred day simple moving average of $87.79. West Fraser Timber Co. Ltd. has a 1 year low of $69.73 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Equities research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber’s payout ratio is presently -609.52%.

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.