West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Purchased by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lifted its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 14.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 853,038 shares of the company’s stock after buying an additional 109,447 shares during the quarter. Manning & Napier Advisors LLC owned approximately 1.10% of West Fraser Timber worth $73,830,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC grew its holdings in West Fraser Timber by 77.4% in the third quarter. Signaturefd LLC now owns 880 shares of the company’s stock valued at $86,000 after purchasing an additional 384 shares during the period. US Bancorp DE lifted its stake in shares of West Fraser Timber by 82.9% in the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company’s stock valued at $125,000 after purchasing an additional 582 shares in the last quarter. D.B. Root & Company LLC purchased a new stake in shares of West Fraser Timber during the 3rd quarter worth about $223,000. Quantinno Capital Management LP acquired a new stake in West Fraser Timber during the 3rd quarter worth approximately $258,000. Finally, Creative Planning grew its stake in 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 buying an additional 1,800 shares during the period. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Stock Performance

Shares of WFG stock traded up $0.04 during mid-day trading on Wednesday, reaching $87.77. 21,348 shares of the company were exchanged, compared to its average volume of 155,088. The company has a market capitalization of $6.82 billion, a P/E ratio of -68.63 and a beta of 1.22. The business’s 50 day simple moving average is $90.36 and its 200 day simple moving average is $90.43. West Fraser Timber Co. Ltd. has a fifty-two week low of $73.91 and a fifty-two week high of $102.40.

West Fraser Timber Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 14th. Stockholders of record on Friday, December 27th were given a dividend of $0.32 per share. This is a boost from West Fraser Timber’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.28 annualized dividend and a dividend yield of 1.46%. West Fraser Timber’s dividend payout ratio (DPR) is presently -100.00%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WFG. Scotiabank increased their price target on West Fraser Timber from $100.00 to $120.00 and gave the company a “sector outperform” rating in a report on Friday, October 25th. BMO Capital Markets increased their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Raymond James lowered West Fraser Timber from a “strong-buy” rating to a “moderate buy” rating and lowered their target price for the company from $120.00 to $115.00 in a research note on Monday, January 20th. Four analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $113.60.

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.