Westpac Banking Corp Sells 15,100 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Westpac Banking Corp lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFGGet Rating) by 19.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 63,936 shares of the company’s stock after selling 15,100 shares during the quarter. Westpac Banking Corp’s holdings in West Fraser Timber were worth $7,716,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WFG. Spire Wealth Management purchased a new position in shares of West Fraser Timber during the fourth quarter valued at approximately $82,000. Moors & Cabot Inc. purchased a new position in shares of West Fraser Timber during the third quarter valued at approximately $130,000. Van ECK Associates Corp increased its stake in shares of West Fraser Timber by 10.3% during the third quarter. Van ECK Associates Corp now owns 1,872 shares of the company’s stock valued at $157,000 after buying an additional 175 shares during the period. Gotham Asset Management LLC purchased a new position in shares of West Fraser Timber during the third quarter valued at approximately $200,000. Finally, TownSquare Capital LLC purchased a new position in shares of West Fraser Timber during the third quarter valued at approximately $216,000. Hedge funds and other institutional investors own 71.22% of the company’s stock.

Several equities analysts have recently issued reports on the company. CIBC raised West Fraser Timber from a “neutral” rating to a “buy” rating and set a $118.60 target price on the stock in a research note on Monday, January 10th. Zacks Investment Research raised West Fraser Timber from a “hold” rating to a “buy” rating and set a $83.00 target price on the stock in a research note on Wednesday, April 13th. Scotiabank upped their price target on West Fraser Timber from C$143.00 to C$147.00 in a research note on Wednesday, February 16th. Finally, TD Securities reduced their price target on West Fraser Timber from $125.00 to $120.00 and set a “buy” rating on the stock in a research note on Tuesday, April 12th. Six analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $128.94.

Shares of WFG stock opened at $87.82 on Friday. The stock has a market cap of $8.88 billion, a price-to-earnings ratio of 2.94 and a beta of -0.24. The business’s fifty day moving average is $87.92 and its 200 day moving average is $89.17. West Fraser Timber Co. Ltd. has a twelve month low of $64.72 and a twelve month high of $102.61. The company has a quick ratio of 1.79, a current ratio of 2.67 and a debt-to-equity ratio of 0.07.

West Fraser Timber (NYSE:WFGGet Rating) last released its earnings results on Thursday, April 28th. The company reported $10.25 EPS for the quarter, topping analysts’ consensus estimates of $7.84 by $2.41. West Fraser Timber had a return on equity of 39.91% and a net margin of 28.02%. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same period in the prior year, the firm posted $6.96 earnings per share. The company’s quarterly revenue was up 32.7% on a year-over-year basis. Equities research analysts expect that West Fraser Timber Co. Ltd. will post 25.02 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 5th. Stockholders of record on Friday, March 18th were paid a $0.25 dividend. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.16. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Thursday, March 17th. West Fraser Timber’s dividend payout ratio is currently 3.34%.

West Fraser Timber Profile (Get Rating)

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 and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products.

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Institutional Ownership by Quarter for West Fraser Timber (NYSE:WFG)

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