Horizon Kinetics Asset Management LLC Has $24.35 Million Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Horizon Kinetics Asset Management LLC boosted its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,367 shares of the company’s stock after acquiring an additional 44,424 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.36% of West Fraser Timber worth $24,352,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. FMR LLC increased its stake in shares of West Fraser Timber by 22.5% in the third 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 in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of West Fraser Timber by 37.1% in the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock valued at $91,429,000 after buying an additional 254,220 shares in the last quarter. Manning & Napier Advisors LLC increased its stake in shares of West Fraser Timber by 14.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock valued at $73,830,000 after buying an additional 109,447 shares in the last quarter. Vontobel Holding Ltd. increased its stake in shares of West Fraser Timber by 6.3% in the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock valued at $52,565,000 after buying an additional 35,855 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of West Fraser Timber by 60.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company’s stock valued at $27,453,000 after buying an additional 119,841 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Stock Up 0.2 %

West Fraser Timber stock opened at $76.45 on Monday. The business’s 50-day simple moving average is $83.37 and its 200 day simple moving average is $89.52. The stock has a market cap of $5.91 billion, a price-to-earnings ratio of -364.03 and a beta of 1.23. West Fraser Timber Co. Ltd. has a 12-month low of $73.91 and a 12-month high of $102.40.

West Fraser Timber (NYSE:WFG) last issued its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (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%. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Friday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is currently -609.52%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on WFG shares. TD Securities lowered their target price on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Raymond James lowered their target price on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank decreased their price target on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average 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.