Connor Clark & Lunn Investment Management Ltd. Buys 119,841 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Connor Clark & Lunn Investment Management Ltd. raised its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 60.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 317,247 shares of the company’s stock after purchasing an additional 119,841 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.41% of West Fraser Timber worth $27,453,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Atria Wealth Solutions Inc. raised its position in shares of West Fraser Timber by 4.3% during the fourth quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company’s stock valued at $250,000 after buying an additional 120 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in West Fraser Timber by 4.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,002 shares of the company’s stock valued at $260,000 after acquiring an additional 121 shares in the last quarter. Moors & Cabot Inc. lifted its position in shares of West Fraser Timber by 3.5% in the 3rd quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock worth $430,000 after acquiring an additional 150 shares during the period. Principal Financial Group Inc. grew its holdings in shares of West Fraser Timber by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 12,202 shares of the company’s stock worth $1,057,000 after purchasing an additional 228 shares in the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of West Fraser Timber by 5.7% during the 4th quarter. Inspire Advisors LLC now owns 4,491 shares of the company’s stock worth $389,000 after purchasing an additional 244 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WFG has been the subject of several research reports. Scotiabank reduced their target price on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 18th. TD Securities dropped their price objective on shares of West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Raymond James decreased their target price on shares of West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $106.00.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $75.64 on Thursday. The firm has a market capitalization of $5.85 billion, a P/E ratio of -360.20 and a beta of 1.23. The stock has a fifty day moving average price of $83.80 and a two-hundred day moving average price of $89.69. West Fraser Timber Co. Ltd. has a 52-week low of $73.91 and a 52-week high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share 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%. On average, equities research analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is currently -609.52%.

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.