Mackenzie Financial Corp Acquires 43,859 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Mackenzie Financial Corp increased its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 760,146 shares of the company's stock after buying an additional 43,859 shares during the quarter. Mackenzie Financial Corp owned about 0.96% of West Fraser Timber worth $65,064,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of WFG. ICA Group Wealth Management LLC acquired a new stake in shares of West Fraser Timber during the fourth quarter worth $43,000. SG Americas Securities LLC acquired a new stake in shares of West Fraser Timber during the third quarter worth $112,000. Moors & Cabot Inc. raised its position in shares of West Fraser Timber by 8.4% during the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company's stock worth $208,000 after purchasing an additional 195 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of West Fraser Timber during the third quarter worth $210,000. Finally, Advisor Group Holdings Inc. raised its position in West Fraser Timber by 15.0% during the first quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company's stock valued at $217,000 after buying an additional 344 shares during the period. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Stock Performance

NYSE:WFG traded up $0.07 during mid-day trading on Wednesday, hitting $78.00. 162,345 shares of the company's stock traded hands, compared to its average volume of 138,483. The firm has a 50 day moving average of $81.43 and a two-hundred day moving average of $78.39. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $90.17. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of -36.28 and a beta of 1.15. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.05. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. The firm had revenue of $1.51 billion during the quarter. On average, equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.1 earnings per share for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Friday, March 15th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a yield of 1.54%. West Fraser Timber's payout ratio is -27.91%.

Analyst Ratings Changes

Several brokerages have weighed in on WFG. TD Securities upped their target price on West Fraser Timber from $115.00 to $118.00 and gave the stock a "buy" rating in a research report on Tuesday. Raymond James upped their price target on West Fraser Timber from $100.00 to $105.00 and gave the stock a "strong-buy" rating in a research note on Tuesday, February 6th. Royal Bank of Canada reiterated an "outperform" rating and set a $97.00 price target on shares of West Fraser Timber in a research note on Thursday, March 28th. Finally, Scotiabank set a $100.00 price target on West Fraser Timber and gave the stock an "outperform" rating in a research note on Monday, January 22nd. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $106.25.

West Fraser Timber 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.