West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc trimmed its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 71,198 shares of the company’s stock after selling 273 shares during the period. CIBC Asset Management Inc owned approximately 0.09% of West Fraser Timber worth $6,155,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC increased its stake in West Fraser Timber by 22.5% during the 3rd quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after buying an additional 266,298 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of West Fraser Timber by 37.1% during the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock valued at $91,429,000 after acquiring an additional 254,220 shares during the period. Van ECK Associates Corp raised its holdings in West Fraser Timber by 4,057.8% during the third quarter. Van ECK Associates Corp now owns 193,752 shares of the company’s stock worth $18,321,000 after purchasing an additional 189,092 shares in the last quarter. Cerity Partners LLC lifted its position in West Fraser Timber by 128.0% in the third quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock worth $24,087,000 after purchasing an additional 138,871 shares during the period. Finally, International Assets Investment Management LLC bought a new position in West Fraser Timber during the 3rd quarter valued at $12,370,000. 40.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WFG has been the subject of a number of research analyst reports. Raymond James cut their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Scotiabank cut their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday. Finally, TD Securities dropped their price target on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, West Fraser Timber currently has a consensus rating of “Buy” and a consensus target price of $106.00.

West Fraser Timber Stock Performance

West Fraser Timber stock opened at $78.93 on Thursday. West Fraser Timber Co. Ltd. has a 52 week low of $73.91 and a 52 week high of $102.40. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of -375.87 and a beta of 1.22. The company has a 50 day moving average price of $86.61 and a 200 day moving average price of $90.51.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data 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%. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 5.14 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.62%. West Fraser Timber’s dividend payout ratio (DPR) is currently -609.52%.

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.