Allianz Asset Management GmbH Has $10.59 Million Holdings in West Fraser Timber Co. Ltd. $WFG

Allianz Asset Management GmbH lessened its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 7.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 155,783 shares of the company’s stock after selling 12,673 shares during the period. Allianz Asset Management GmbH’s holdings in West Fraser Timber were worth $10,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of WFG. Thrivent Financial for Lutherans grew its holdings in West Fraser Timber by 31,861.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 896,852 shares of the company’s stock worth $60,968,000 after acquiring an additional 894,046 shares during the period. Manning & Napier Advisors LLC boosted its position in shares of West Fraser Timber by 91.6% during the 3rd quarter. Manning & Napier Advisors LLC now owns 1,671,846 shares of the company’s stock valued at $113,656,000 after purchasing an additional 799,422 shares in the last quarter. Norges Bank bought a new stake in shares of West Fraser Timber during the 2nd quarter valued at about $56,870,000. Mackenzie Financial Corp grew its stake in West Fraser Timber by 407.6% during the second quarter. Mackenzie Financial Corp now owns 907,620 shares of the company’s stock worth $66,599,000 after purchasing an additional 728,830 shares during the period. Finally, Lightrock Netherlands B.V. increased its holdings in West Fraser Timber by 1,075.2% in the second quarter. Lightrock Netherlands B.V. now owns 259,303 shares of the company’s stock worth $19,007,000 after purchasing an additional 237,239 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on WFG shares. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce downgraded shares of West Fraser Timber from an “outperform” rating to a “neutral” rating in a research report on Tuesday, December 9th. Zacks Research lowered shares of West Fraser Timber from a “hold” rating to a “strong sell” rating in a research note on Monday, January 26th. Royal Bank Of Canada decreased their price target on shares of West Fraser Timber from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. Finally, Raymond James Financial upgraded shares of West Fraser Timber from a “hold” rating to a “moderate buy” rating and set a $75.00 price objective on the stock in a report on Wednesday, January 14th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $87.00.

West Fraser Timber Stock Performance

NYSE WFG opened at $73.42 on Monday. The company has a market cap of $5.58 billion, a P/E ratio of -21.92 and a beta of 1.12. The company has a fifty day simple moving average of $64.98 and a 200 day simple moving average of $67.02. The company has a current ratio of 2.39, a quick ratio of 1.32 and a debt-to-equity ratio of 0.05. West Fraser Timber Co. Ltd. has a 12-month low of $57.34 and a 12-month high of $86.88.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, December 29th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a $1.28 annualized dividend and a dividend yield of 1.7%. West Fraser Timber’s payout ratio is presently -38.21%.

About West Fraser Timber

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.