Advisor Group Holdings Inc. reduced its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 19.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,643 shares of the company’s stock after selling 1,625 shares during the quarter. Advisor Group Holdings Inc.’s holdings in West Fraser Timber were worth $477,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. Shell Asset Management Co. acquired a new stake in West Fraser Timber during the 1st quarter valued at $29,000. Jacobi Capital Management LLC purchased a new position in shares of West Fraser Timber during the 1st quarter valued at $40,000. The PNC Financial Services Group Inc. purchased a new position in shares of West Fraser Timber during the 1st quarter valued at $58,000. Ensign Peak Advisors Inc purchased a new position in shares of West Fraser Timber during the 1st quarter valued at $64,000. Finally, Van ECK Associates Corp purchased a new position in shares of West Fraser Timber during the 1st quarter valued at $79,000. 55.36% of the stock is currently owned by institutional investors.
West Fraser Timber stock opened at $80.49 on Thursday. The firm has a market cap of $8.54 billion and a price-to-earnings ratio of 8.79. West Fraser Timber Co. Ltd. has a fifty-two week low of $45.03 and a fifty-two week high of $91.53. The firm has a fifty day moving average price of $73.87 and a two-hundred day moving average price of $74.12.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 5th. Investors of record on Thursday, September 23rd will be paid a $0.198 dividend. This represents a $0.79 annualized dividend and a dividend yield of 0.98%. The ex-dividend date of this dividend is Wednesday, September 22nd. West Fraser Timber’s payout ratio is presently 9.06%.
A number of brokerages recently issued reports on WFG. TD Securities upped their price objective on shares of West Fraser Timber from $110.00 to $143.00 and gave the stock an “action list buuy” rating in a report on Friday, July 30th. CIBC decreased their price objective on shares of West Fraser Timber from C$141.00 to C$118.00 and set an “outperform” rating for the company in a report on Tuesday, July 20th. Zacks Investment Research cut shares of West Fraser Timber from a “buy” rating to a “hold” rating in a report on Tuesday. Scotiabank decreased their price objective on shares of West Fraser Timber from C$142.00 to C$141.00 and set an “outperform” rating for the company in a report on Thursday, July 29th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $160.00 price objective on shares of West Fraser Timber in a report on Friday, September 10th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $123.83.
West Fraser Timber Profile
West Fraser Timber Co Ltd. is a diversified wood products company, which engages in producing lumber, engineered wood products (oriented strand board, laminated veneer lumber, medium density fiberboard, plywood, and particleboard), pulp, newsprint, wood chips, other residuals and renewable energy. Its products are used in home construction, repair and remodeling, industrial applications, papers, tissue, and box materials.
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