Western Forest Products (TSE:WEF) Hits New 1-Year High – Here’s What Happened

Western Forest Products Inc. (TSE:WEF)’s stock price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$14.81 and last traded at C$14.74, with a volume of 45587 shares. The stock had previously closed at C$14.19.

Western Forest Products Stock Up 2.2%

The company has a debt-to-equity ratio of 19.61, a quick ratio of 0.73 and a current ratio of 3.04. The firm has a market capitalization of C$153.09 million, a PE ratio of -2.35, a price-to-earnings-growth ratio of 0.32 and a beta of 1.04. The firm’s 50-day moving average is C$11.44 and its 200 day moving average is C$12.02.

Western Forest Products (TSE:WEF) last issued its quarterly earnings data on Wednesday, November 5th. The company reported C($5.71) earnings per share (EPS) for the quarter. The company had revenue of C$233.00 million during the quarter. Western Forest Products had a negative net margin of 4.21% and a negative return on equity of 7.69%. As a group, research analysts forecast that Western Forest Products Inc. will post 0.004992 earnings per share for the current fiscal year.

Insider Transactions at Western Forest Products

In other Western Forest Products news, insider Kernwood Limited acquired 9,600 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost of C$11.70 per share, for a total transaction of C$112,320.00. Following the acquisition, the insider directly owned 1,770,900 shares of the company’s stock, valued at C$20,719,530. This trade represents a 0.55% increase in their ownership of the stock. Also, Director Elizabeth Kernaghan purchased 9,600 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average price of C$11.70 per share, with a total value of C$112,320.00. Following the completion of the purchase, the director directly owned 1,770,900 shares of the company’s stock, valued at approximately C$20,719,530. This represents a 0.55% increase in their position. Over the last three months, insiders acquired 71,200 shares of company stock valued at $828,256. 0.67% of the stock is currently owned by corporate insiders.

About Western Forest Products

Western Forest Products Inc is a Canada-based softwood forest products company. The company’s principal business activities include timber harvesting, reforestation, forest management, sawmilling logs into lumber and wood chips, and value-added lumber remanufacturing. Its operating business segment comprised of Timber harvesting, Log sales, and Lumber manufacturing and sales. The firm purchases and harvests logs which are then manufactured into lumber products at its sawmills, or sold. Canada and the United States, represent the company’s largest markets and contribute the vast majority of its total revenue.