Scotiabank Cuts West Fraser Timber (NYSE:WFG) Price Target to $109.00

West Fraser Timber (NYSE:WFG) had its price target lowered by Scotiabank from $120.00 to $109.00 in a report published on Monday,Benzinga reports. The brokerage currently has a sector outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. Raymond James reduced their price target on shares of West Fraser Timber from $120.00 to $115.00 in a report on Thursday, January 30th. BMO Capital Markets boosted their price objective on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $111.40.

West Fraser Timber Trading Up 0.1 %

West Fraser Timber stock opened at $84.57 on Monday. The business has a 50-day moving average of $89.09 and a 200-day moving average of $90.66. The firm has a market capitalization of $6.57 billion, a P/E ratio of -66.07 and a beta of 1.22. West Fraser Timber has a 1 year low of $73.91 and a 1 year high of $102.40.

West Fraser Timber Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were issued a dividend of $0.32 per share. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, December 27th. West Fraser Timber’s dividend payout ratio is -100.00%.

Institutional Trading of West Fraser Timber

A number of hedge funds have recently added to or reduced their stakes in WFG. Kestra Investment Management LLC bought a new stake in shares of West Fraser Timber during the 4th quarter valued at about $39,000. Signaturefd LLC raised its holdings in shares of West Fraser Timber by 77.4% in the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock worth $86,000 after acquiring an additional 384 shares during the last quarter. US Bancorp DE lifted its holdings in shares of West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after purchasing an additional 582 shares in the last quarter. D.B. Root & Company LLC purchased a new position in shares of West Fraser Timber during the third quarter valued at approximately $223,000. Finally, Atria Wealth Solutions Inc. raised its position in West Fraser Timber by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after buying an additional 120 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

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.