Mackenzie Financial Corp Boosts Stake in West Fraser Timber Co. Ltd. (NYSE:WFG)

Mackenzie Financial Corp raised its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 73.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 304,826 shares of the company’s stock after buying an additional 129,378 shares during the period. Mackenzie Financial Corp owned approximately 0.39% of West Fraser Timber worth $26,384,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in West Fraser Timber in the 4th quarter valued at about $35,000. Kestra Investment Management LLC purchased a new position in West Fraser Timber in the 4th quarter valued at about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in West Fraser Timber in the 4th quarter valued at about $52,000. Signaturefd LLC boosted its position in West Fraser Timber by 22.5% in the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock valued at $93,000 after buying an additional 198 shares during the last quarter. Finally, Natixis boosted its position in West Fraser Timber by 61.8% in the 4th quarter. Natixis now owns 1,605 shares of the company’s stock valued at $139,000 after buying an additional 613 shares during the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Stock Down 0.1%

WFG opened at $73.27 on Monday. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of -348.90 and a beta of 1.21. West Fraser Timber Co. Ltd. has a fifty-two week low of $69.48 and a fifty-two week high of $102.40. The company’s 50-day moving average price is $74.68 and its 200 day moving average price is $82.56.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.15). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. Research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WFG. Raymond James cut their target price on shares of West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. TD Securities cut their target price on shares of West Fraser Timber from $99.00 to $98.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada cut their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Finally, Scotiabank cut their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $100.40.

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.