Metis Global Partners LLC Increases Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Metis Global Partners LLC lifted its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 9.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 22,876 shares of the company’s stock after purchasing an additional 1,898 shares during the period. Metis Global Partners LLC’s holdings in West Fraser Timber were worth $1,982,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Wealth Solutions Inc. raised its stake in West Fraser Timber by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock worth $250,000 after acquiring an additional 120 shares in the last quarter. Moors & Cabot Inc. grew its holdings in shares of West Fraser Timber by 3.5% during the third quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock worth $430,000 after purchasing an additional 150 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of West Fraser Timber by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock worth $1,057,000 after purchasing an additional 228 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of West Fraser Timber by 0.4% in the 3rd quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock valued at $6,966,000 after purchasing an additional 311 shares during the last quarter. Finally, Kestra Investment Management LLC acquired a new stake in shares of West Fraser Timber in the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

WFG has been the topic of several research analyst reports. Scotiabank cut their price target on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, February 18th. TD Securities reduced their price target on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, Raymond James decreased 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 research note on Thursday, February 13th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, West Fraser Timber currently has a consensus rating of “Buy” and a consensus price target of $106.00.

West Fraser Timber Trading Up 1.0 %

Shares of WFG stock opened at $79.46 on Monday. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40. The business’s 50 day moving average is $85.40 and its two-hundred day moving average is $90.25. The company has a market capitalization of $6.15 billion, a P/E ratio of -378.37 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data 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 negative net margin of 0.08% and a positive return on equity of 0.88%. As a group, equities analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Friday, March 14th will be given 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 1.61%. West Fraser Timber’s payout ratio 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.