Grantham Mayo Van Otterloo & Co. LLC Reduces Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Grantham Mayo Van Otterloo & Co. LLC lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 21.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 396,956 shares of the company’s stock after selling 105,467 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in West Fraser Timber were worth $34,372,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Aviva PLC acquired a new stake in shares of West Fraser Timber in the 4th quarter valued at about $2,650,000. Headlands Technologies LLC purchased a new position in shares of West Fraser Timber during the fourth quarter worth approximately $35,000. Geode Capital Management LLC increased its holdings in shares of West Fraser Timber by 31.5% in the 4th quarter. Geode Capital Management LLC now owns 306,463 shares of the company’s stock valued at $26,409,000 after acquiring an additional 73,335 shares during the period. Franklin Resources Inc. raised its position in West Fraser Timber by 16.0% in the 4th quarter. Franklin Resources Inc. now owns 11,361 shares of the company’s stock valued at $983,000 after purchasing an additional 1,571 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in West Fraser Timber by 31.8% during the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 11,976 shares of the company’s stock worth $1,037,000 after purchasing an additional 2,892 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Down 1.1 %

NYSE WFG opened at $73.52 on Friday. The stock has a market capitalization of $5.68 billion, a P/E ratio of -350.10 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 52-week low of $71.17 and a 52-week high of $102.40. The firm has a 50-day moving average price of $79.87 and a 200 day moving average price of $88.29.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 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%. On average, equities research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were given a dividend of $0.32 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.74%. West Fraser Timber’s payout ratio is currently -609.52%.

Analysts Set New Price Targets

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

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.