Skandinaviska Enskilda Banken AB publ Boosts Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Skandinaviska Enskilda Banken AB publ lifted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,744 shares of the company’s stock after buying an additional 580 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in West Fraser Timber were worth $839,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC purchased a new position in West Fraser Timber in the fourth quarter worth $39,000. Quantinno Capital Management LP bought a new stake in shares of West Fraser Timber during the 3rd quarter worth $258,000. D.B. Root & Company LLC boosted its holdings in shares of West Fraser Timber by 24.0% in the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock worth $246,000 after buying an additional 549 shares during the last quarter. Atria Wealth Solutions Inc. grew its position in West Fraser Timber by 4.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after buying an additional 120 shares during the period. Finally, Avantax Advisory Services Inc. increased its holdings in West Fraser Timber by 4.2% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock worth $260,000 after buying an additional 121 shares during the last quarter. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Trading Up 1.0 %

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 PE ratio of -368.20 and a beta of 1.23. The company has a 50 day moving average of $83.13 and a 200 day moving average of $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, 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%. Research 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 business also recently declared 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 1.66%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber’s dividend payout ratio is presently -609.52%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. TD Securities dropped their target price on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Scotiabank dropped their price objective on 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. Finally, Raymond James lowered their target price on 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 research analysts have rated the stock with a buy rating, According to MarketBeat, West Fraser Timber has an average rating of “Buy” and a consensus price target of $106.00.

About West Fraser Timber

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.