Manning & Napier Advisors LLC Buys 22,777 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Manning & Napier Advisors LLC increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 875,815 shares of the company's stock after acquiring an additional 22,777 shares during the period. Manning & Napier Advisors LLC owned approximately 1.14% of West Fraser Timber worth $67,385,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of WFG. FIL Ltd grew its holdings in West Fraser Timber by 35.5% during the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company's stock worth $436,861,000 after acquiring an additional 1,319,843 shares during the period. Norges Bank purchased a new position in West Fraser Timber in the 4th quarter worth about $81,605,000. Price T Rowe Associates Inc. MD increased its stake in West Fraser Timber by 56.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock worth $187,126,000 after purchasing an additional 780,313 shares in the last quarter. Bank of America Corp DE increased its stake in West Fraser Timber by 200.3% in the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock worth $27,265,000 after purchasing an additional 210,107 shares in the last quarter. Finally, Mackenzie Financial Corp increased its stake in West Fraser Timber by 73.7% in the 4th quarter. Mackenzie Financial Corp now owns 304,826 shares of the company's stock worth $26,384,000 after purchasing an additional 129,378 shares in the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WFG. Raymond James Financial dropped their price target on 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 dropped their price target on 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 decreased their price objective on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded West Fraser Timber from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $100.40.

West Fraser Timber Trading Down 1.2%

NYSE WFG traded down $0.93 during trading on Wednesday, reaching $73.83. 193,549 shares of the company's stock were exchanged, compared to its average volume of 172,095. West Fraser Timber Co. Ltd. has a fifty-two week low of $69.48 and a fifty-two week high of $102.40. The firm has a market capitalization of $5.68 billion, a PE ratio of -434.29 and a beta of 1.17. The company's fifty day simple moving average is $74.34 and its 200-day simple moving average is $79.55.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.53 billion. West Fraser Timber had a net margin of 0.03% and a return on equity of 0.99%. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 14th. Stockholders of record on Thursday, June 26th will be issued a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, June 26th. This represents a $1.28 annualized dividend and a dividend yield of 1.73%. West Fraser Timber's dividend payout ratio is -752.94%.

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.