West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp boosted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 760,146 shares of the company’s stock after acquiring an additional 43,859 shares during the period. Mackenzie Financial Corp owned 0.96% of West Fraser Timber worth $65,064,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in West Fraser Timber in the fourth quarter valued at approximately $116,809,000. Bridgewater Advisors Inc. purchased a new stake in West Fraser Timber in the third quarter valued at approximately $79,179,000. Price T Rowe Associates Inc. MD raised its position in West Fraser Timber by 124.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 696,637 shares of the company’s stock valued at $49,630,000 after purchasing an additional 386,371 shares during the period. Millennium Management LLC raised its position in West Fraser Timber by 181.4% in the fourth quarter. Millennium Management LLC now owns 399,939 shares of the company’s stock valued at $28,897,000 after purchasing an additional 257,798 shares during the period. Finally, Royal Bank of Canada raised its position in West Fraser Timber by 9.0% in the third 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. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Price Performance

Shares of WFG opened at $77.96 on Wednesday. West Fraser Timber Co. Ltd. has a fifty-two week low of $64.11 and a fifty-two week high of $90.17. The company has a market capitalization of $6.19 billion, a price-to-earnings ratio of -36.26 and a beta of 1.15. The firm has a 50-day simple moving average of $81.40 and a 200-day simple moving average of $78.39. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.45 and a current ratio of 2.26.

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate 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 during the quarter. On average, equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.1 earnings per share for the current year.

West Fraser Timber Announces Dividend

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

Wall Street Analysts Forecast Growth

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

About West Fraser Timber

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.