Mackenzie Financial Corp Increases Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Mackenzie Financial Corp boosted its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 73.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 304,826 shares of the company's stock after acquiring an additional 129,378 shares during the quarter. Mackenzie Financial Corp owned about 0.39% of West Fraser Timber worth $26,384,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

WFG has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Scotiabank reduced their price target on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday, February 18th. TD Securities dropped their price objective on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Finally, Raymond James reduced their target price on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber currently has a consensus rating of "Buy" and an average target price of $100.40.

West Fraser Timber Trading Down 0.3%

Shares of NYSE:WFG traded down $0.22 during midday trading on Friday, hitting $73.54. 75,532 shares of the stock were exchanged, compared to its average volume of 176,033. West Fraser Timber Co. Ltd. has a twelve month low of $69.48 and a twelve month high of $102.40. The company has a 50 day moving average price of $74.40 and a 200-day moving average price of $82.19. The stock has a market cap of $5.67 billion, a P/E ratio of -350.14 and a beta of 1.21.

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

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.