Canada Pension Plan Investment Board Cuts Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Canada Pension Plan Investment Board lowered its stake in West Fraser Timber Co. Ltd. (NYSE:WFGFree Report) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 259,770 shares of the company’s stock after selling 15,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in West Fraser Timber were worth $18,947,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of WFG. Bank of Nova Scotia increased its stake in West Fraser Timber by 3.6% in the second quarter. Bank of Nova Scotia now owns 86,038 shares of the company’s stock valued at $7,392,000 after purchasing an additional 2,995 shares during the last quarter. 1832 Asset Management L.P. increased its stake in West Fraser Timber by 12,087.0% in the second quarter. 1832 Asset Management L.P. now owns 144,416 shares of the company’s stock valued at $12,417,000 after purchasing an additional 143,231 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in West Fraser Timber by 44.0% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 40,570 shares of the company’s stock valued at $2,959,000 after purchasing an additional 12,389 shares during the last quarter. KGH Ltd boosted its holdings in shares of West Fraser Timber by 63.7% in the second quarter. KGH Ltd now owns 321,102 shares of the company’s stock valued at $27,603,000 after acquiring an additional 125,000 shares during the period. Finally, Bridgewater Advisors Inc. acquired a new stake in shares of West Fraser Timber in the third quarter valued at approximately $79,179,000. Institutional investors and hedge funds own 46.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Raymond James increased their price objective on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. Scotiabank set a $100.00 price objective on West Fraser Timber and gave the company an “outperform” rating in a report on Monday, January 22nd. Royal Bank of Canada decreased their price objective on West Fraser Timber from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, December 19th. Finally, TheStreet raised West Fraser Timber from a “d+” rating to a “c” rating in a report on Friday, October 27th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $103.75.

View Our Latest Research Report on West Fraser Timber

West Fraser Timber Price Performance

West Fraser Timber stock opened at $78.27 on Monday. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $90.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.47 and a current ratio of 3.51. The business has a fifty day moving average of $81.63 and a two-hundred day moving average of $76.37. The company has a market cap of $6.22 billion, a P/E ratio of -55.51 and a beta of 1.17.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 15th. Shareholders of record on Friday, December 29th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Thursday, December 28th. West Fraser Timber’s dividend payout ratio (DPR) is currently -85.11%.

West Fraser Timber Profile

(Free Report)

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, as well as particleboards.

Further Reading

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

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