Thrivent Financial for Lutherans Sells 12,823 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Thrivent Financial for Lutherans decreased its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 926,256 shares of the company’s stock after selling 12,823 shares during the quarter. Thrivent Financial for Lutherans’ holdings in West Fraser Timber were worth $80,168,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smead Capital Management Inc. boosted its position in shares of West Fraser Timber by 5.1% during the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock worth $11,507,000 after acquiring an additional 5,743 shares during the last quarter. Alberta Investment Management Corp boosted its position in shares of West Fraser Timber by 58.7% during the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock worth $25,452,000 after acquiring an additional 108,670 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of West Fraser Timber by 6.3% during the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock worth $52,565,000 after acquiring an additional 35,855 shares during the last quarter. Tacita Capital Inc bought a new position in shares of West Fraser Timber during the fourth quarter worth $412,000. Finally, Janus Henderson Group PLC boosted its position in shares of West Fraser Timber by 383.7% during the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock worth $7,296,000 after acquiring an additional 59,347 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

Analysts Set New Price Targets

WFG has been the subject of several research reports. Raymond James lowered their price objective on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Scotiabank lowered their price objective on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 18th. Finally, TD Securities lowered their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $106.00.

West Fraser Timber Trading Up 1.0 %

West Fraser Timber stock opened at $78.14 on Wednesday. The firm has a 50-day moving average price of $82.92 and a 200-day moving average price of $89.36. The firm has a market capitalization of $6.05 billion, a PE ratio of -372.10 and a beta of 1.23. West Fraser Timber Co. Ltd. has a 12-month low of $73.91 and a 12-month high of $102.40.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) 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 predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.64%. West Fraser Timber’s dividend payout ratio (DPR) is presently -609.52%.

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.