Baird Financial Group Inc. Sells 304 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Posted by Defense World Staff on Jun 12th, 2023

Baird Financial Group Inc. lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,576 shares of the company’s stock after selling 304 shares during the period. Baird Financial Group Inc. owned about 0.12% of West Fraser Timber worth $7,126,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Advisor Group Holdings Inc. raised its stake in West Fraser Timber by 15.0% in the first quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock worth $217,000 after buying an additional 344 shares in the last quarter. JPMorgan Chase & Co. raised its stake in West Fraser Timber by 32.0% in the first quarter. JPMorgan Chase & Co. now owns 53,051 shares of the company’s stock worth $4,373,000 after buying an additional 12,853 shares in the last quarter. Bank of New York Mellon Corp raised its stake in West Fraser Timber by 41.6% in the first quarter. Bank of New York Mellon Corp now owns 165,617 shares of the company’s stock worth $13,651,000 after buying an additional 48,652 shares in the last quarter. Citigroup Inc. grew its holdings in West Fraser Timber by 526.2% in the first quarter. Citigroup Inc. now owns 21,798 shares of the company’s stock worth $1,795,000 after purchasing an additional 18,317 shares during the last quarter. Finally, BlackRock Inc. grew its holdings in West Fraser Timber by 286.4% in the first quarter. BlackRock Inc. now owns 89,586 shares of the company’s stock worth $7,385,000 after purchasing an additional 66,401 shares during the last quarter. Institutional investors own 45.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on WFG shares. Credit Suisse Group boosted their price objective on shares of West Fraser Timber from $95.00 to $97.00 and gave the company an “outperform” rating in a report on Monday, February 13th. TD Securities upped their price objective on shares of West Fraser Timber from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, February 16th.

West Fraser Timber Price Performance

Shares of NYSE WFG traded up $1.02 during midday trading on Monday, hitting $76.79. The company had a trading volume of 64,381 shares, compared to its average volume of 131,222. The company has a quick ratio of 2.09, a current ratio of 3.66 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $6.42 billion, a price-to-earnings ratio of 8.98 and a beta of 0.97. The business has a 50-day simple moving average of $73.60 and a two-hundred day simple moving average of $75.33. West Fraser Timber Co. Ltd. has a twelve month low of $67.41 and a twelve month high of $102.96.

West Fraser Timber (NYSE:WFG – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($1.13). The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.94 billion. West Fraser Timber had a return on equity of 10.92% and a net margin of 10.25%. West Fraser Timber’s revenue was down 47.7% on a year-over-year basis. During the same period in the previous year, the company earned $10.25 EPS. Equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 3.93 earnings per share for the current year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Wednesday, June 21st will be issued a $0.30 dividend. The ex-dividend date is Tuesday, June 20th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. West Fraser Timber’s dividend payout ratio (DPR) is presently 14.22%.

West Fraser Timber Profile

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West Fraser Timber Co Ltd. engages in the production of lumber and engineered wood products. It operates through the following business segments: Lumber, North America Engineered Wood Products (NA EWP), Pulp and Paper, Europe Engineered Wood Products (Europe EWP), and Corporate and Other. The Lumber segment refers to the manufacturing, selling, marketing, and distributing lumber.