CIBC Asset Management Inc Sells 273 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

CIBC Asset Management Inc decreased its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 0.4% during the fourth quarter, HoldingsChannel reports. The firm owned 71,198 shares of the company’s stock after selling 273 shares during the quarter. CIBC Asset Management Inc’s holdings in West Fraser Timber were worth $6,155,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. FMR LLC raised its holdings in West Fraser Timber by 22.5% in the 3rd quarter. FMR LLC now owns 1,447,823 shares of the company’s stock valued at $141,047,000 after acquiring an additional 266,298 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in West Fraser Timber by 37.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock worth $91,429,000 after buying an additional 254,220 shares in the last quarter. Manning & Napier Advisors LLC increased its position in West Fraser Timber by 14.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock worth $73,830,000 after purchasing an additional 109,447 shares during the period. Vontobel Holding Ltd. raised its stake in shares of West Fraser Timber by 6.3% during the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock worth $52,565,000 after buying an additional 35,855 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of West Fraser Timber by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company’s stock valued at $29,777,000 after acquiring an additional 4,945 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WFG. TD Securities cut their price target on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Scotiabank dropped 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. Finally, Raymond James cut their price target 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. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, West Fraser Timber has a consensus rating of “Buy” and an average price target of $106.00.

West Fraser Timber Stock Down 1.8 %

Shares of WFG stock opened at $78.93 on Thursday. West Fraser Timber Co. Ltd. has a 12 month low of $73.91 and a 12 month high of $102.40. The company’s fifty day simple moving average is $86.61 and its 200-day simple moving average is $90.51. The firm has a market cap of $6.13 billion, a PE ratio of -375.87 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates 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%. On average, equities analysts predict that West Fraser Timber Co. Ltd. will post 5.14 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be issued 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 dividend yield of 1.62%. West Fraser Timber’s payout ratio is -609.52%.

West Fraser Timber 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.