West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 303,672 shares of the company’s stock after selling 1,644 shares during the period. Charles Schwab Investment Management Inc.’s holdings in West Fraser Timber were worth $26,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. FMR LLC lifted its stake in 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 purchasing an additional 266,298 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of 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 buying an additional 254,220 shares in the last quarter. Cerity Partners LLC lifted its position in shares of West Fraser Timber by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock valued at $24,087,000 after acquiring an additional 138,871 shares during the last quarter. Manning & Napier Advisors LLC boosted its stake in shares of West Fraser Timber by 14.7% during the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock worth $73,830,000 after acquiring an additional 109,447 shares in the last quarter. Finally, Alberta Investment Management Corp raised its position in shares of West Fraser Timber by 58.7% during the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock worth $25,452,000 after purchasing an additional 108,670 shares during the period. 40.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

WFG has been the topic of several recent analyst reports. 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 report on Friday, February 14th. Raymond James decreased their price objective on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank cut their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 18th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $106.00.

West Fraser Timber Stock Up 1.0 %

Shares of NYSE WFG opened at $77.32 on Tuesday. West Fraser Timber Co. Ltd. has a 12 month low of $73.91 and a 12 month high of $102.40. The company has a market cap of $5.98 billion, a P/E ratio of -368.20 and a beta of 1.23. The business’s 50 day moving average is $83.13 and its two-hundred day moving average is $89.44.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 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%. Sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

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