PCJ Investment Counsel Ltd. Invests $974,000 in West Fraser Timber Co. Ltd. (NYSE:WFG)

PCJ Investment Counsel Ltd. bought a new stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 10,000 shares of the company's stock, valued at approximately $974,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WFG. Park Place Capital Corp acquired a new stake in shares of West Fraser Timber in the 2nd quarter valued at $31,000. Signaturefd LLC boosted its stake in shares of West Fraser Timber by 60.0% in the 2nd quarter. Signaturefd LLC now owns 496 shares of the company's stock worth $38,000 after buying an additional 186 shares during the last quarter. Ensign Peak Advisors Inc purchased a new stake in shares of West Fraser Timber during the second quarter worth $44,000. UniSuper Management Pty Ltd boosted its position in West Fraser Timber by 100.0% during the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company's stock valued at $69,000 after buying an additional 400 shares during the period. Finally, US Bancorp DE lifted its holdings in West Fraser Timber by 82.9% in the third quarter. US Bancorp DE now owns 1,284 shares of the company's stock worth $125,000 after buying an additional 582 shares during the period. 40.23% of the stock is owned by hedge funds and other institutional investors.

West Fraser Timber Price Performance

NYSE WFG traded up $1.34 during trading on Wednesday, reaching $93.80. 103,077 shares of the company's stock were exchanged, compared to its average volume of 158,314. West Fraser Timber Co. Ltd. has a fifty-two week low of $72.35 and a fifty-two week high of $102.40. The business has a 50 day moving average price of $94.85 and a 200-day moving average price of $86.26.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.45 billion. During the same period in the prior year, the firm earned $1.81 earnings per share. On average, analysts predict that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were issued a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 annualized dividend and a dividend yield of 1.01%. West Fraser Timber's payout ratio is presently -74.22%.

Wall Street Analyst Weigh In

WFG has been the topic of a number of research reports. BMO Capital Markets lifted their price target on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on shares of West Fraser Timber from $97.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, July 26th. Finally, Scotiabank lifted their price target on West Fraser Timber from $100.00 to $120.00 and gave the stock a "sector outperform" rating in a research note on Friday, October 25th. Four analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, West Fraser Timber currently has an average rating of "Buy" and a consensus target price of $111.60.

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.