Alliancebernstein L.P. Has $322,000 Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Alliancebernstein L.P. reduced its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 7.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,722 shares of the company’s stock after selling 304 shares during the quarter. Alliancebernstein L.P.’s holdings in West Fraser Timber were worth $322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Edmond DE Rothschild Holding S.A. grew its stake in shares of West Fraser Timber by 31.8% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 11,976 shares of the company’s stock valued at $1,037,000 after purchasing an additional 2,892 shares during the last quarter. Norges Bank acquired a new position in shares of West Fraser Timber during the fourth quarter valued at $81,605,000. Sava Infond d.o.o. bought a new position in West Fraser Timber in the fourth quarter valued at about $407,000. Korea Investment CORP increased its position in West Fraser Timber by 30.9% in the fourth quarter. Korea Investment CORP now owns 58,415 shares of the company’s stock worth $5,059,000 after purchasing an additional 13,800 shares during the period. Finally, Vanguard Group Inc. raised its holdings in West Fraser Timber by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock worth $246,652,000 after purchasing an additional 12,874 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Performance

Shares of WFG stock opened at $72.49 on Tuesday. The company has a market capitalization of $5.59 billion, a P/E ratio of -345.19 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 52 week low of $69.48 and a 52 week high of $102.40. The company’s 50 day moving average price is $76.53 and its two-hundred day moving average price is $86.21.

West Fraser Timber (NYSE:WFG) last announced 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 negative net margin of 0.08% and a positive return on equity of 0.88%. Analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Friday, March 14th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 1.77%. The ex-dividend date was Friday, March 14th. West Fraser Timber’s payout ratio is -609.52%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. TD Securities dropped their price target on shares of West Fraser Timber from $110.00 to $99.00 and set a “buy” rating for the company in a research note on Thursday, April 17th. Raymond James decreased 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 report on Thursday, February 13th. Finally, Scotiabank reduced their price target on shares of 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. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average target price of $103.80.

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.