West Fraser Timber Co. Ltd. (NYSE:WFG) Stock Position Raised by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 760,146 shares of the company’s stock after buying an additional 43,859 shares during the period. Mackenzie Financial Corp’s holdings in West Fraser Timber were worth $65,064,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in West Fraser Timber by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 3,212,954 shares of the company’s stock valued at $264,845,000 after purchasing an additional 47,956 shares during the period. Royal Bank of Canada boosted its stake in West Fraser Timber by 9.0% during the 3rd quarter. Royal Bank of Canada now owns 2,319,488 shares of the company’s stock valued at $168,256,000 after purchasing an additional 191,613 shares during the period. Norges Bank acquired a new position in West Fraser Timber during the 4th quarter valued at about $116,809,000. Letko Brosseau & Associates Inc. lifted its stake in shares of West Fraser Timber by 0.5% in the 3rd quarter. Letko Brosseau & Associates Inc. now owns 1,125,166 shares of the company’s stock worth $82,066,000 after acquiring an additional 5,632 shares during the period. Finally, Bridgewater Advisors Inc. acquired a new stake in shares of West Fraser Timber in the 3rd quarter worth approximately $79,179,000. Institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Down 0.7 %

NYSE WFG opened at $77.96 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.26 and a quick ratio of 1.45. The company’s 50 day simple moving average is $81.40 and its 200 day simple moving average is $78.39. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $90.17. The company has a market capitalization of $6.19 billion, a P/E ratio of -36.26 and a beta of 1.15.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a negative net margin of 2.59% and a positive return on equity of 1.29%. The business had revenue of $1.51 billion for the quarter. Equities research analysts expect that West Fraser Timber Co. Ltd. will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.54%. West Fraser Timber’s dividend payout ratio is currently -27.91%.

Analyst Upgrades and Downgrades

WFG has been the subject of a number of research analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $97.00 price target on shares of West Fraser Timber in a research note on Thursday, March 28th. TD Securities upped their price target on shares of West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday. Scotiabank set a $100.00 price target on shares of West Fraser Timber and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Finally, Raymond James upped their price target on shares of West Fraser Timber from $100.00 to $105.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, February 6th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, West Fraser Timber presently has an average rating of “Buy” and a consensus price target of $106.25.

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.