Heritage Wealth Management Inc. purchased a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 5,175 shares of the company’s stock, valued at approximately $387,000.
Other institutional investors have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new stake in shares of West Fraser Timber in the 2nd quarter worth about $42,886,000. Cumberland Partners Ltd purchased a new stake in shares of West Fraser Timber in the 1st quarter worth about $1,011,000. GRS Advisors LLC lifted its position in shares of West Fraser Timber by 14.7% in the 4th quarter. GRS Advisors LLC now owns 455,910 shares of the company’s stock worth $39,017,000 after purchasing an additional 58,488 shares during the period. Oppenheimer & Co. Inc. lifted its position in shares of West Fraser Timber by 36.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 83,705 shares of the company’s stock worth $7,163,000 after purchasing an additional 22,438 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of West Fraser Timber by 27.7% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 3,699 shares of the company’s stock worth $320,000 after acquiring an additional 802 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.
West Fraser Timber Stock Up 0.7 %
NYSE:WFG opened at $98.69 on Thursday. The firm has a market cap of $7.78 billion, a P/E ratio of -81.56 and a beta of 1.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.49 and a current ratio of 2.33. West Fraser Timber Co. Ltd. has a fifty-two week low of $64.11 and a fifty-two week high of $98.82. The firm has a 50-day simple moving average of $89.12 and a two-hundred day simple moving average of $82.96.
West Fraser Timber Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 26th will be paid a dividend of $0.237 per share. The ex-dividend date is Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 0.96%. West Fraser Timber’s dividend payout ratio is currently -77.69%.
Analyst Ratings Changes
Several research analysts recently issued reports on WFG shares. Royal Bank of Canada increased their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. BMO Capital Markets increased their price target on shares of West Fraser Timber from $92.00 to $105.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $105.60.
Read Our Latest Report on West Fraser Timber
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.
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