West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 43.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 143,712 shares of the company’s stock after buying an additional 43,549 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in West Fraser Timber were worth $14,008,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in shares of West Fraser Timber by 128.0% in the third quarter. Cerity Partners LLC now owns 247,400 shares of the company’s stock worth $24,087,000 after acquiring an additional 138,871 shares during the period. Charles Schwab Investment Management Inc. grew its position in 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. Moors & Cabot Inc. raised its stake in shares of West Fraser Timber by 3.5% during the 3rd quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock valued at $430,000 after buying an additional 150 shares during the last quarter. PCJ Investment Counsel Ltd. purchased a new position in shares of West Fraser Timber during the 3rd quarter valued at about $974,000. Finally, Smead Capital Management Inc. lifted its holdings in shares of West Fraser Timber by 5.1% in the 3rd quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock valued at $11,507,000 after buying an additional 5,743 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Stock Up 0.8 %

Shares of West Fraser Timber stock opened at $98.98 on Monday. The firm has a market cap of $7.94 billion, a PE ratio of -77.33 and a beta of 1.18. The business has a 50-day moving average price of $95.71 and a 200 day moving average price of $87.24. West Fraser Timber Co. Ltd. has a twelve month low of $72.35 and a twelve month high of $102.40.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the company earned $1.81 earnings per share. On average, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were given a $0.237 dividend. The ex-dividend date was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 0.96%. West Fraser Timber’s dividend payout ratio (DPR) is -73.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on WFG shares. Scotiabank lifted their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a research report on Friday, October 25th. BMO Capital Markets lifted their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average target price of $111.60.

West Fraser Timber Company 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.