Heritage Wealth Management Inc. Reduces Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Heritage Wealth Management Inc. lessened its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 9.9% in the 4th quarter, Holdings Channel reports. The fund owned 3,175 shares of the company’s stock after selling 350 shares during the quarter. Heritage Wealth Management Inc.’s holdings in West Fraser Timber were worth $275,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. FMR LLC grew its stake in West Fraser Timber by 22.5% during 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 grew its stake in shares of West Fraser Timber by 37.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock valued at $91,429,000 after buying an additional 254,220 shares during the period. Manning & Napier Advisors LLC grew its stake in shares of West Fraser Timber by 14.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock valued at $73,830,000 after buying an additional 109,447 shares during the period. Vontobel Holding Ltd. grew its stake in shares of West Fraser Timber by 6.3% in the 4th quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock valued at $52,565,000 after buying an additional 35,855 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of 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 valued at $29,777,000 after buying an additional 4,945 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on WFG shares. Scotiabank dropped their price target on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 18th. TD Securities dropped their price target on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Raymond James dropped their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company 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 currently has an average rating of “Buy” and an average target price of $106.00.

West Fraser Timber Stock Performance

NYSE:WFG opened at $79.46 on Friday. The stock has a market capitalization of $6.15 billion, a P/E ratio of -378.37 and a beta of 1.22. The company has a 50 day moving average price of $85.40 and a 200 day moving average price of $90.21. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share 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%. Research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be issued a dividend of $0.32 per share. The ex-dividend date is Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.61%. West Fraser Timber’s dividend payout ratio (DPR) is presently -609.52%.

West Fraser Timber Company 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.