West Fraser Timber (NYSE:WFG) Hits New 12-Month Low – Time to Sell?

West Fraser Timber Co. Ltd. (NYSE:WFG)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $69.48 and last traded at $75.61, with a volume of 416232 shares trading hands. The stock had previously closed at $70.90.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WFG. TD Securities lowered their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. 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. Finally, Raymond James cut their price objective on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, West Fraser Timber presently has a consensus rating of “Buy” and a consensus price target of $106.00.

West Fraser Timber Stock Up 1.5 %

The firm has a market capitalization of $5.83 billion, a price-to-earnings ratio of -358.85 and a beta of 1.21. The firm’s 50 day moving average is $77.94 and its 200 day moving average is $87.29.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.70%. West Fraser Timber’s dividend payout ratio is currently -609.52%.

Institutional Trading of West Fraser Timber

Hedge funds have recently bought and sold shares of the company. FIL Ltd increased its position in shares of West Fraser Timber by 35.5% in the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after acquiring an additional 1,319,843 shares in the last quarter. Norges Bank acquired a new position in West Fraser Timber in the 4th quarter worth approximately $81,605,000. Price T Rowe Associates Inc. MD grew its position in West Fraser Timber by 56.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock worth $187,126,000 after purchasing an additional 780,313 shares in the last quarter. Bank of America Corp DE raised its stake in West Fraser Timber by 200.3% during the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company’s stock valued at $27,265,000 after purchasing an additional 210,107 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of West Fraser Timber by 73.7% in the fourth quarter. Mackenzie Financial Corp now owns 304,826 shares of the company’s stock valued at $26,384,000 after purchasing an additional 129,378 shares in the last quarter. 40.23% of the stock is owned by hedge funds and other 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.