Triasima Portfolio Management inc. Sells 2,135 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Triasima Portfolio Management inc. decreased its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,952 shares of the company’s stock after selling 2,135 shares during the quarter. Triasima Portfolio Management inc.’s holdings in West Fraser Timber were worth $2,074,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. FMR LLC grew its position in shares of West Fraser Timber by 22.5% during the 3rd quarter. FMR LLC now owns 1,447,823 shares of the company’s stock worth $141,047,000 after buying an additional 266,298 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of West Fraser Timber by 37.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company’s stock worth $91,429,000 after purchasing an additional 254,220 shares during the period. Manning & Napier Advisors LLC raised its stake in shares of West Fraser Timber by 14.7% during the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock worth $73,830,000 after purchasing an additional 109,447 shares during the period. Vontobel Holding Ltd. raised its stake in shares of West Fraser Timber by 7.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock worth $55,683,000 after purchasing an additional 39,651 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of West Fraser Timber by 1.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company’s stock worth $29,777,000 after purchasing an additional 4,945 shares during the period. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Up 1.7 %

Shares of WFG opened at $85.80 on Friday. West Fraser Timber Co. Ltd. has a 1 year low of $73.91 and a 1 year high of $102.40. The stock has a 50 day simple moving average of $88.84 and a two-hundred day simple moving average of $90.62.

West Fraser Timber Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 14th. Shareholders of record on Friday, December 27th were given a $0.32 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.28 annualized dividend and a yield of 1.49%. This is an increase from West Fraser Timber’s previous quarterly dividend of $0.24. West Fraser Timber’s payout ratio is presently -100.00%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Scotiabank cut their price objective on West Fraser Timber from $120.00 to $109.00 and set a “sector outperform” rating for the company in a report on Monday. Finally, Raymond James cut their price objective on West Fraser Timber from $120.00 to $115.00 in a report on Thursday, January 30th. Four analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $111.40.

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.