Cerity Partners LLC Acquires 104,386 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Cerity Partners LLC boosted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2,668.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 108,298 shares of the company’s stock after purchasing an additional 104,386 shares during the quarter. Cerity Partners LLC’s holdings in West Fraser Timber were worth $9,268,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in shares of West Fraser Timber in the fourth quarter valued at approximately $43,000. SG Americas Securities LLC bought a new position in West Fraser Timber during the 3rd quarter valued at $112,000. Moors & Cabot Inc. boosted its holdings in West Fraser Timber by 8.4% during the 1st quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock worth $208,000 after acquiring an additional 195 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in shares of West Fraser Timber by 15.0% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,632 shares of the company’s stock worth $217,000 after acquiring an additional 344 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of West Fraser Timber in the third quarter valued at about $210,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analysts Set New Price Targets

WFG has been the subject of a number of recent analyst reports. Scotiabank set a $100.00 price objective on shares of West Fraser Timber and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Raymond James increased their price target on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a research report on Tuesday, February 6th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $97.00 price objective on shares of West Fraser Timber in a research report on Thursday, March 28th. Five investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $104.92.

West Fraser Timber Trading Down 3.1 %

West Fraser Timber stock opened at $79.13 on Monday. The company has a current ratio of 2.26, a quick ratio of 1.45 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $81.37 and its 200 day simple moving average is $78.32. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $90.17.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. The firm had revenue of $1.51 billion for the quarter. As a group, research analysts expect that West Fraser Timber Co. Ltd. will post 4.1 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Friday, March 15th were paid a $0.30 dividend. The ex-dividend date was Thursday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.52%. West Fraser Timber’s payout ratio is -27.91%.

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.