Manning & Napier Advisors LLC increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 14.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 853,038 shares of the company's stock after acquiring an additional 109,447 shares during the period. Manning & Napier Advisors LLC owned about 1.10% of West Fraser Timber worth $73,830,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. bought a new stake in shares of West Fraser Timber during the second quarter worth about $1,862,000. Dimensional Fund Advisors LP grew its holdings in West Fraser Timber by 0.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 132,556 shares of the company's stock worth $10,190,000 after acquiring an additional 825 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in West Fraser Timber by 446.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 18,965 shares of the company's stock valued at $1,458,000 after acquiring an additional 15,497 shares during the period. APG Asset Management N.V. bought a new position in shares of West Fraser Timber during the second quarter valued at $338,000. Finally, Creative Planning lifted its holdings in shares of West Fraser Timber by 76.3% during the second quarter. Creative Planning now owns 4,158 shares of the company's stock worth $320,000 after purchasing an additional 1,800 shares during the period. Institutional investors and hedge funds own 40.23% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Raymond James decreased their price objective on shares of West Fraser Timber from $120.00 to $115.00 in a research report on Thursday. Finally, Scotiabank boosted their target price on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a "sector outperform" rating in a report on Friday, October 25th. Four research 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 $113.60.
Read Our Latest Stock Analysis on WFG
West Fraser Timber Price Performance
Shares of NYSE:WFG traded up $0.40 during mid-day trading on Thursday, hitting $88.05. The company had a trading volume of 151,369 shares, compared to its average volume of 163,389. The company has a market capitalization of $6.84 billion, a PE ratio of -68.79 and a beta of 1.22. The firm has a fifty day moving average price of $90.25 and a 200 day moving average price of $90.41. West Fraser Timber Co. Ltd. has a one year low of $73.91 and a one year high of $102.40.
West Fraser Timber Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Investors of record on Friday, December 27th were given a $0.32 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 annualized dividend and a yield of 1.45%. This is an increase from West Fraser Timber's previous quarterly dividend of $0.24. West Fraser Timber's dividend payout ratio (DPR) is presently -100.00%.
West Fraser Timber Company Profile
(
Free Report)
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.
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