Union Bancaire Privee UBP SA Buys Shares of 12,019 West Fraser Timber Co. Ltd. (NYSE:WFG)

Union Bancaire Privee UBP SA purchased a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 12,019 shares of the company’s stock, valued at approximately $1,040,000.

A number of other hedge funds have also made changes to their positions in WFG. FMR LLC boosted its position in West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company’s stock worth $141,047,000 after purchasing an additional 266,298 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of 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 during the period. Vontobel Holding Ltd. grew its stake in West Fraser Timber by 7.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock valued at $55,683,000 after buying an additional 39,651 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in West Fraser Timber by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company’s stock worth $29,777,000 after acquiring an additional 4,945 shares during the period. Finally, Cerity Partners LLC lifted its position in West Fraser Timber by 128.0% during the 3rd quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock worth $24,087,000 after acquiring an additional 138,871 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank raised their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their price target on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Raymond James cut West Fraser Timber from a “strong-buy” rating to a “moderate buy” rating and reduced their price objective for the company from $120.00 to $115.00 in a research report on Monday, January 20th. Four 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 $113.60.

West Fraser Timber Price Performance

WFG stock opened at $90.80 on Tuesday. The business’s 50-day simple moving average is $90.46 and its 200 day simple moving average is $90.36. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40.

West Fraser Timber Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were given a dividend of $0.32 per share. The ex-dividend date was Friday, December 27th. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.41%. West Fraser Timber’s payout ratio is currently -100.00%.

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.