Maryland State Retirement & Pension System Increases Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Maryland State Retirement & Pension System increased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 4.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 35,947 shares of the company’s stock after buying an additional 1,645 shares during the quarter. Maryland State Retirement & Pension System’s holdings in West Fraser Timber were worth $3,113,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of West Fraser Timber during the 4th quarter worth approximately $39,000. Signaturefd LLC raised its position in West Fraser Timber by 22.5% during the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock valued at $93,000 after purchasing an additional 198 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of West Fraser Timber in the 3rd quarter worth $258,000. D.B. Root & Company LLC raised its position in shares of West Fraser Timber by 24.0% in the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock worth $246,000 after acquiring an additional 549 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in West Fraser Timber by 4.3% during the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock worth $250,000 after buying an additional 120 shares during the last quarter. 40.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

West Fraser Timber Price Performance

Shares of West Fraser Timber stock opened at $77.19 on Friday. The business has a 50 day simple moving average of $82.61 and a two-hundred day simple moving average of $89.20. The stock has a market capitalization of $6.15 billion, a P/E ratio of -367.59 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 issued its quarterly earnings data 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 positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.28 annualized dividend and a dividend yield of 1.66%. West Fraser Timber’s dividend payout ratio is currently -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.