West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 25.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,647 shares of the company's stock after buying an additional 36,935 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.23% of West Fraser Timber worth $15,662,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Atria Wealth Solutions Inc. increased its stake in West Fraser Timber by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock valued at $250,000 after buying an additional 120 shares during the period. Avantax Advisory Services Inc. lifted its position in West Fraser Timber by 4.2% in the fourth quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company's stock valued at $260,000 after purchasing an additional 121 shares during the period. Signaturefd LLC boosted its holdings 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 purchasing an additional 198 shares in the last quarter. Principal Financial Group Inc. increased its position in West Fraser Timber by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 12,202 shares of the company's stock worth $1,057,000 after purchasing an additional 228 shares during the period. Finally, Inspire Advisors LLC raised its stake in shares of West Fraser Timber by 5.7% during the 4th quarter. Inspire Advisors LLC now owns 4,491 shares of the company's stock worth $389,000 after buying an additional 244 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.

West Fraser Timber Trading Down 0.4 %

Shares of NYSE:WFG traded down $0.27 during midday trading on Friday, hitting $74.43. 50,678 shares of the stock were exchanged, compared to its average volume of 173,977. The stock has a market cap of $5.74 billion, a P/E ratio of -354.43 and a beta of 1.21. 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 $75.22 and a 200-day moving average price of $84.17.

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). 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 analysts' expectations 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Friday, March 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend was Friday, March 14th. West Fraser Timber's dividend payout ratio is presently -752.94%.

Analyst Upgrades and Downgrades

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

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.