Union Bancaire Privee UBP SA Makes New $1.04 Million Investment in West Fraser Timber Co. Ltd. (NYSE:WFG)

Union Bancaire Privee UBP SA bought a new position in West Fraser Timber Co. Ltd. (NYSE:WFG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,019 shares of the company’s stock, valued at approximately $1,040,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on WFG shares. TD Securities decreased their price objective on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a report on Friday, February 14th. Raymond James decreased their price objective on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Finally, Scotiabank decreased their price objective on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $106.00.

West Fraser Timber Stock Down 1.6 %

Shares of NYSE:WFG opened at $78.91 on Monday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of -375.77 and a beta of 1.22. West Fraser Timber Co. Ltd. has a 12-month low of $73.91 and a 12-month high of $102.40. The business’s 50 day moving average is $86.16 and its 200 day moving average is $90.49.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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, equities research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share 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. Investors of record on Friday, March 14th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.62%. West Fraser Timber’s payout ratio is -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.