Van ECK Associates Corp Has $18.32 Million Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Van ECK Associates Corp increased its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 4,057.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 193,752 shares of the company’s stock after buying an additional 189,092 shares during the quarter. Van ECK Associates Corp’s holdings in West Fraser Timber were worth $18,321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Park Place Capital Corp acquired a new stake in shares of West Fraser Timber during the second quarter worth $31,000. Signaturefd LLC raised its holdings in shares of West Fraser Timber by 60.0% in the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after acquiring an additional 186 shares during the last quarter. Ensign Peak Advisors Inc acquired a new stake in shares of West Fraser Timber in the 2nd quarter worth about $44,000. UniSuper Management Pty Ltd raised its stake in shares of West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock worth $69,000 after purchasing an additional 400 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after purchasing an additional 582 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. BMO Capital Markets increased their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank increased their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research note on Friday, October 25th. Finally, Royal Bank of Canada increased their price objective on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $111.60.

West Fraser Timber Stock Performance

WFG opened at $92.15 on Tuesday. West Fraser Timber Co. Ltd. has a fifty-two week low of $71.80 and a fifty-two week high of $102.40. The firm has a 50-day moving average of $93.86 and a 200 day moving average of $85.15.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same period last year, the company posted $1.81 earnings per share. On average, equities analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were paid a $0.237 dividend. This represents a $0.95 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date was Thursday, September 26th. West Fraser Timber’s dividend payout ratio is currently -74.22%.

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.