West Fraser Timber (NYSE:WFG) Reaches New 12-Month Low – Here’s Why

West Fraser Timber Co. Ltd. (NYSE:WFG) hit a new 52-week low on Thursday . The company traded as low as $69.48 and last traded at $75.61, with a volume of 416232 shares traded. The stock had previously closed at $70.90.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on WFG shares. 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. TD Securities lowered their price target on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Scotiabank reduced their price objective on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $106.00.

West Fraser Timber Stock Up 6.6 %

The company has a market cap of $5.84 billion, a P/E ratio of -360.05 and a beta of 1.21. The business has a fifty day moving average price of $78.32 and a 200-day moving average price of $87.58.

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

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Friday, March 14th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is currently -609.52%.

Institutional Investors Weigh In On West Fraser Timber

Institutional investors have recently made changes to their positions in the stock. Headlands Technologies LLC acquired a new position in West Fraser Timber during the fourth quarter valued at approximately $35,000. Kestra Investment Management LLC acquired a new position in West Fraser Timber during the fourth quarter valued at approximately $39,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in West Fraser Timber during the fourth quarter valued at approximately $52,000. GAMMA Investing LLC raised its position in West Fraser Timber by 7,588.9% during the first quarter. GAMMA Investing LLC now owns 692 shares of the company’s stock valued at $53,000 after purchasing an additional 683 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in shares of West Fraser Timber by 22.5% during the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock worth $93,000 after buying an additional 198 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

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.