West Fraser Timber (NYSE:WFG) Price Target Cut to $115.00 by Analysts at Raymond James

West Fraser Timber (NYSE:WFG) had its target price trimmed by Raymond James from $120.00 to $115.00 in a report released on Thursday morning,BayStreet.CA reports.

Several other research analysts have also recently weighed in on the company. BMO Capital Markets increased their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank raised their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $113.60.

West Fraser Timber Stock Performance

Shares of NYSE:WFG opened at $88.05 on Thursday. West Fraser Timber has a 12-month low of $73.91 and a 12-month high of $102.40. The business has a 50 day moving average of $90.10 and a 200-day moving average of $90.40.

West Fraser Timber Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.45%. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, December 27th. West Fraser Timber’s dividend payout ratio is presently -100.00%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new position in West Fraser Timber during the second quarter worth about $1,862,000. Dimensional Fund Advisors LP increased its position in West Fraser Timber by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 132,556 shares of the company’s stock worth $10,190,000 after purchasing an additional 825 shares in the last quarter. Creative Planning lifted its stake in West Fraser Timber by 76.3% in the 2nd quarter. Creative Planning now owns 4,158 shares of the company’s stock valued at $320,000 after purchasing an additional 1,800 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in West Fraser Timber in the second quarter valued at approximately $884,000. Finally, Heritage Wealth Management Inc. bought a new stake in shares of West Fraser Timber during the second quarter worth $387,000. 40.23% of the stock is currently owned by institutional investors and hedge funds.

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.