Alberta Investment Management Corp Buys 108,670 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Alberta Investment Management Corp grew its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 58.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 293,903 shares of the company's stock after purchasing an additional 108,670 shares during the period. Alberta Investment Management Corp owned approximately 0.38% of West Fraser Timber worth $25,452,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Creative Planning boosted its holdings in West Fraser Timber by 69.8% during the third quarter. Creative Planning now owns 7,059 shares of the company's stock worth $687,000 after buying an additional 2,901 shares in the last quarter. Signaturefd LLC boosted its stake in shares of West Fraser Timber by 77.4% during the 3rd quarter. Signaturefd LLC now owns 880 shares of the company's stock worth $86,000 after acquiring an additional 384 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of West Fraser Timber in the 3rd quarter worth $12,370,000. DekaBank Deutsche Girozentrale raised its position in shares of West Fraser Timber by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 34,466 shares of the company's stock worth $3,285,000 after purchasing an additional 532 shares during the period. Finally, US Bancorp DE raised its position in shares of West Fraser Timber by 82.9% during the third quarter. US Bancorp DE now owns 1,284 shares of the company's stock worth $125,000 after purchasing an additional 582 shares during the period. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Trading Down 1.6 %

NYSE WFG traded down $1.32 during trading on Friday, reaching $78.91. 118,828 shares of the company's stock were exchanged, compared to its average volume of 183,415. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40. The company's fifty day simple moving average is $86.37 and its 200-day simple moving average is $90.44. The firm has a market capitalization of $6.13 billion, a PE ratio of -375.77 and a beta of 1.22.

West Fraser Timber (NYSE:WFG - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.55) by $0.63. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 5.14 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Friday, March 14th will be given a dividend of $0.32 per share. The ex-dividend date is Friday, March 14th. This represents a $1.28 dividend on an annualized basis and a yield of 1.62%. West Fraser Timber's payout ratio is -609.52%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WFG. TD Securities dropped their price target on West Fraser Timber from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Scotiabank decreased their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a report on Tuesday. Finally, Raymond James cut their price target on shares of West Fraser Timber from $115.00 to $105.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, West Fraser Timber has a consensus rating of "Buy" and a consensus price target of $106.00.

About West Fraser Timber

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.