West Fraser Timber (NYSE:WFG) Price Target Lowered to $109.00 at Scotiabank

West Fraser Timber (NYSE:WFG) had its target price decreased by Scotiabank from $120.00 to $109.00 in a report issued on Monday morning,Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

A number of other analysts also recently issued reports on WFG. Raymond James dropped their price objective on shares of West Fraser Timber from $120.00 to $115.00 in a report on Thursday, January 30th. BMO Capital Markets lifted their price target on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $111.40.

West Fraser Timber Stock Up 0.1 %

WFG stock opened at $84.57 on Monday. The stock has a 50-day simple moving average of $89.09 and a two-hundred day simple moving average of $90.66. The firm has a market capitalization of $6.57 billion, a PE ratio of -66.07 and a beta of 1.22. West Fraser Timber has a twelve month low of $73.91 and a twelve month high of $102.40.

West Fraser Timber Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a dividend of $0.32 per share. The ex-dividend date was Friday, December 27th. This represents a $1.28 annualized dividend and a yield of 1.51%. This is a positive change from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s dividend payout ratio (DPR) is currently -100.00%.

Hedge Funds Weigh In On West Fraser Timber

Hedge funds have recently bought and sold shares of the company. FMR LLC boosted 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 purchasing an additional 266,298 shares during the last quarter. Thrivent Financial for Lutherans boosted its position in shares of West Fraser Timber by 37.1% during the third 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 last quarter. Manning & Napier Advisors LLC increased its holdings in West Fraser Timber by 14.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock worth $73,830,000 after buying an additional 109,447 shares in the last quarter. Vontobel Holding Ltd. raised its position in West Fraser Timber by 6.3% in the 4th quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock worth $52,565,000 after buying an additional 35,855 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in West Fraser Timber by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company’s stock valued at $29,777,000 after acquiring an additional 4,945 shares during the period. Institutional investors own 40.23% of the company’s stock.

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.