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

Heritage Wealth Management Inc. cut its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 9.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of West Fraser Timber during the fourth quarter valued at $39,000. US Bancorp DE grew its holdings in shares of West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after buying an additional 582 shares during the last quarter. D.B. Root & Company LLC purchased a new stake in shares of West Fraser Timber during the third quarter valued at $223,000. Quantinno Capital Management LP purchased a new stake in shares of West Fraser Timber during the third quarter valued at $258,000. Finally, Atria Wealth Solutions Inc. boosted its holdings in West Fraser Timber by 4.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after purchasing an additional 120 shares during the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on WFG. Raymond James lowered 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 report on Thursday, February 13th. TD Securities lowered 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 report on Friday, February 14th. Finally, Scotiabank lowered their price target on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a report on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, West Fraser Timber has an average rating of “Buy” and a consensus target price of $106.00.

West Fraser Timber Stock Up 1.0 %

WFG opened at $79.46 on Friday. West Fraser Timber Co. Ltd. has a twelve month low of $73.91 and a twelve month high of $102.40. The company has a 50-day moving average price of $85.40 and a 200 day moving average price of $90.21. The company has a market cap of $6.15 billion, a PE ratio of -378.37 and a beta of 1.22.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate 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%. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Friday, March 14th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend 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.