West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA reduced its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,058,475 shares of the company’s stock after selling 64,780 shares during the quarter. Pictet Asset Management Holding SA owned approximately 1.36% of West Fraser Timber worth $91,665,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Atria Wealth Solutions Inc. lifted its position in West Fraser Timber by 4.3% in the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after acquiring an additional 120 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in shares of West Fraser Timber by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock valued at $260,000 after purchasing an additional 121 shares during the period. Signaturefd LLC boosted its position in shares of West Fraser Timber by 22.5% in 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 during the period. Principal Financial Group Inc. increased its position in West Fraser Timber by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock worth $1,057,000 after buying an additional 228 shares during the period. Finally, Inspire Advisors LLC increased its position in West Fraser Timber by 5.7% during the fourth quarter. Inspire Advisors LLC now owns 4,491 shares of the company’s stock worth $389,000 after buying an additional 244 shares during the period. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Price Performance

NYSE:WFG opened at $75.61 on Friday. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of -360.04 and a beta of 1.23. The firm’s fifty day moving average price is $81.36 and its 200 day moving average price is $88.77. West Fraser Timber Co. Ltd. has a 1-year low of $73.91 and a 1-year high of $102.40.

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

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 1.69%. The ex-dividend date is Friday, March 14th. West Fraser Timber’s payout ratio is -609.52%.

Wall Street Analyst Weigh In

WFG has been the topic of a number of research reports. Raymond James lowered their target price on shares of 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. Scotiabank dropped their price objective on shares of 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, TD Securities decreased their target price on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $106.00.

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.