The Manufacturers Life Insurance Company Buys 43,549 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

The Manufacturers Life Insurance Company raised its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 43.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,712 shares of the company's stock after acquiring an additional 43,549 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.18% of West Fraser Timber worth $14,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. 1832 Asset Management L.P. lifted its position in West Fraser Timber by 18.4% during the second quarter. 1832 Asset Management L.P. now owns 989,374 shares of the company's stock valued at $76,053,000 after purchasing an additional 153,600 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of West Fraser Timber by 37.1% in the third quarter. Thrivent Financial for Lutherans now owns 939,079 shares of the company's stock worth $91,429,000 after buying an additional 254,220 shares during the period. Van Lanschot Kempen Investment Management N.V. lifted its position in shares of West Fraser Timber by 15.2% during the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 692,453 shares of the company's stock valued at $53,229,000 after buying an additional 91,490 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of West Fraser Timber by 7.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company's stock valued at $55,683,000 after acquiring an additional 39,651 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new stake in West Fraser Timber in the 2nd quarter worth approximately $42,886,000. Hedge funds and other institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Down 4.0 %

WFG traded down $4.00 during trading on Monday, hitting $94.98. 42,715 shares of the company traded hands, compared to its average volume of 157,678. The company has a market cap of $7.62 billion, a PE ratio of -74.23 and a beta of 1.19. West Fraser Timber Co. Ltd. has a 1 year low of $72.56 and a 1 year high of $102.40. The stock's 50-day simple moving average is $95.71 and its two-hundred day simple moving average is $87.28.

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

West Fraser Timber Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Thursday, September 26th were given a dividend of $0.237 per share. The ex-dividend date of this dividend was Thursday, September 26th. This represents a $0.95 annualized dividend and a yield of 1.00%. West Fraser Timber's dividend payout ratio (DPR) is currently -74.22%.

Wall Street Analyst Weigh In

WFG has been the topic of several analyst 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. Scotiabank increased 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $111.60.

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.