Horizon Kinetics Asset Management LLC Acquires 44,424 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Horizon Kinetics Asset Management LLC increased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 18.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,367 shares of the company’s stock after purchasing an additional 44,424 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in West Fraser Timber were worth $24,352,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Signaturefd LLC lifted its holdings in shares of 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. Envestnet Portfolio Solutions Inc. increased its position in shares of West Fraser Timber by 16.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 3,964 shares of the company’s stock worth $343,000 after purchasing an additional 555 shares during the last quarter. Skandinaviska Enskilda Banken AB publ increased its position in shares of West Fraser Timber by 6.3% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 9,744 shares of the company’s stock worth $839,000 after purchasing an additional 580 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of West Fraser Timber by 60.7% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company’s stock worth $27,453,000 after purchasing an additional 119,841 shares during the last quarter. Finally, Avantax Advisory Services Inc. increased its position in shares of West Fraser Timber by 4.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock worth $260,000 after purchasing an additional 121 shares during the last quarter. Institutional investors own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

West Fraser Timber Trading Up 0.2 %

WFG stock opened at $76.45 on Monday. The firm has a market capitalization of $5.91 billion, a PE ratio of -364.03 and a beta of 1.23. West Fraser Timber Co. Ltd. has a 1-year low of $73.91 and a 1-year high of $102.40. The business’s 50 day simple moving average is $83.37 and its 200 day simple moving average is $89.52.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Friday, March 14th will be paid a $0.32 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.28 annualized dividend and a yield of 1.67%. 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.