Sycomore Asset Management Invests $596,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

Sycomore Asset Management bought a new stake in West Fraser Timber Co. Ltd. (NYSE:WFG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,500 shares of the company’s stock, valued at approximately $596,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC grew its stake in shares of West Fraser Timber by 77.4% during the third quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after purchasing an additional 384 shares during the last quarter. US Bancorp DE boosted 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 buying an additional 582 shares during the last quarter. D.B. Root & Company LLC acquired a new stake in shares of West Fraser Timber in the 3rd quarter valued at $223,000. Quantinno Capital Management LP acquired a new stake in shares of West Fraser Timber in the 3rd quarter valued at $258,000. Finally, Creative Planning lifted its stake in shares of West Fraser Timber by 76.3% during the second quarter. Creative Planning now owns 4,158 shares of the company’s stock valued at $320,000 after acquiring an additional 1,800 shares during the period. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Trading Down 0.6 %

Shares of WFG stock opened at $85.37 on Monday. The company has a fifty day moving average price of $88.57 and a two-hundred day moving average price of $90.83. West Fraser Timber Co. Ltd. has a one year low of $73.91 and a one year high of $102.40.

West Fraser Timber Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were issued a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 dividend on an annualized basis and a yield of 1.50%. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s payout ratio is currently -100.00%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BMO Capital Markets raised their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank reduced their price objective on shares of West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating on the stock in a research note on Monday, February 3rd. Finally, Raymond James dropped their target price on shares of West Fraser Timber from $120.00 to $115.00 in a research report on Thursday, January 30th. Four equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target 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.