6,500 Shares in West Fraser Timber Co. Ltd. (NYSE:WFG) Bought by Sycomore Asset Management

Sycomore Asset Management purchased a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG) in the 4th quarter, HoldingsChannel reports. The fund purchased 6,500 shares of the company’s stock, valued at approximately $596,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC boosted its position in shares of West Fraser Timber by 77.4% during the 3rd quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after purchasing an additional 384 shares in the last quarter. US Bancorp DE grew its position in West Fraser Timber by 82.9% in the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after purchasing an additional 582 shares during the period. D.B. Root & Company LLC acquired a new position in shares of West Fraser Timber during the third quarter valued at about $223,000. Quantinno Capital Management LP bought a new stake in West Fraser Timber during the 3rd quarter worth approximately $258,000. Finally, Creative Planning raised its position in West Fraser Timber by 76.3% in the 2nd quarter. Creative Planning now owns 4,158 shares of the company’s stock valued at $320,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $85.37 on Monday. West Fraser Timber Co. Ltd. has a 52 week low of $73.91 and a 52 week high of $102.40. The business has a 50-day simple moving average of $88.57 and a two-hundred day simple moving average of $90.83.

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 $0.32 dividend. This is a positive change 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 1.50%. The ex-dividend date was Friday, December 27th. West Fraser Timber’s dividend payout ratio (DPR) is -100.00%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on WFG shares. Scotiabank dropped their price target on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a report on Monday, February 3rd. BMO Capital Markets lifted their target price on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Raymond James cut their price target on shares of West Fraser Timber from $120.00 to $115.00 in a report on Thursday, January 30th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $111.40.

About West Fraser Timber

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.