Western Forest Products Inc. (OTCMKTS:WFSTF – Get Free Report) was the recipient of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totalling 1,098,600 shares, a decrease of 21.1% from the July 15th total of 1,392,900 shares. Based on an average daily trading volume, of 132,500 shares, the days-to-cover ratio is currently 8.3 days.
Analysts Set New Price Targets
Several analysts recently commented on WFSTF shares. Raymond James dropped their price objective on Western Forest Products from C$1.35 to C$1.25 in a research note on Friday, August 4th. Scotiabank reduced their price target on shares of Western Forest Products from C$1.75 to C$1.50 in a report on Thursday, May 4th. Finally, TD Securities cut their price objective on shares of Western Forest Products from C$1.25 to C$1.15 in a research report on Tuesday, August 8th.
View Our Latest Research Report on Western Forest Products
Western Forest Products Trading Up 0.1 %
Western Forest Products Cuts Dividend
The business also recently announced a dividend, which was paid on Friday, June 16th. Investors of record on Friday, May 26th were issued a dividend of $0.0092 per share. The ex-dividend date of this dividend was Thursday, May 25th. This represents a yield of 4.44%. Western Forest Products’s payout ratio is presently 22.67%.
About Western Forest Products
Western Forest Products Inc operates as an integrated forest products company in Canada, the United States, Japan, China, Europe, and internationally. The company is involved in the timber harvesting, sawmilling logs into specialty lumber, value-added lumber and glulam remanufacturing, and wholesaling purchased lumber activities.
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