PNC Financial Services Group Inc. Sells 749 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

PNC Financial Services Group Inc. decreased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 35.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,336 shares of the company’s stock after selling 749 shares during the quarter. PNC Financial Services Group Inc.’s holdings in West Fraser Timber were worth $116,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in West Fraser Timber during the fourth quarter worth $487,000. Aigen Investment Management LP acquired a new stake in West Fraser Timber during the 4th quarter worth about $834,000. Tacita Capital Inc bought a new position in shares of West Fraser Timber in the 4th quarter worth about $412,000. Metis Global Partners LLC raised its position in shares of West Fraser Timber by 9.0% in the 4th quarter. Metis Global Partners LLC now owns 22,876 shares of the company’s stock worth $1,982,000 after acquiring an additional 1,898 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of West Fraser Timber by 22.3% in the 4th quarter. Bank of New York Mellon Corp now owns 59,526 shares of the company’s stock valued at $5,152,000 after purchasing an additional 10,841 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

WFG has been the subject of a number of research analyst reports. Scotiabank lowered 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. TD Securities lowered their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Raymond James cut their target price on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber currently has a consensus rating of “Buy” and an average target price of $106.00.

West Fraser Timber Stock Performance

Shares of NYSE:WFG opened at $77.66 on Tuesday. West Fraser Timber Co. Ltd. has a 52-week low of $73.91 and a 52-week high of $102.40. The business’s 50 day simple moving average is $82.29 and its two-hundred day simple moving average is $89.08. The firm has a market cap of $6.19 billion, a P/E ratio of -369.81 and a beta of 1.23.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping 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%. On average, equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber’s payout ratio is presently -609.52%.

West Fraser Timber 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.