Moors & Cabot Inc. Purchases 450 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Moors & Cabot Inc. boosted its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,870 shares of the company’s stock after purchasing an additional 450 shares during the period. Moors & Cabot Inc.’s holdings in West Fraser Timber were worth $422,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in WFG. Kestra Investment Management LLC acquired a new position in shares of West Fraser Timber during the fourth quarter worth $39,000. US Bancorp DE lifted its holdings in West Fraser Timber by 82.9% during the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after buying an additional 582 shares during the period. Quantinno Capital Management LP bought a new stake in shares of West Fraser Timber in the 3rd quarter valued at about $258,000. D.B. Root & Company LLC increased its stake in shares of West Fraser Timber by 24.0% in the fourth quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock valued at $246,000 after buying an additional 549 shares during the period. Finally, Atria Wealth Solutions Inc. raised its position in shares of West Fraser Timber by 4.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock worth $250,000 after acquiring an additional 120 shares during the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Up 0.2 %

NYSE:WFG opened at $76.45 on Friday. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40. The company has a fifty day moving average of $83.37 and a 200-day moving average of $89.51. The firm has a market capitalization of $5.91 billion, a P/E ratio of -364.03 and a beta of 1.23.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. On average, analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.67%. West Fraser Timber’s dividend payout ratio is -609.52%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WFG shares. Scotiabank reduced their target price on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 18th. Raymond James reduced their price objective 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. Finally, TD Securities lowered their target price 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. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $106.00.

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.