Cerity Partners LLC Purchases 138,871 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Cerity Partners LLC increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 128.0% during the 3rd quarter, Holdings Channel reports. The firm owned 247,400 shares of the company’s stock after acquiring an additional 138,871 shares during the period. Cerity Partners LLC’s holdings in West Fraser Timber were worth $24,087,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. UniSuper Management Pty Ltd lifted its position in shares of West Fraser Timber by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 800 shares of the company’s stock valued at $69,000 after acquiring an additional 400 shares in the last quarter. Toronto Dominion Bank lifted its holdings in West Fraser Timber by 9.4% in the 1st quarter. Toronto Dominion Bank now owns 29,915 shares of the company’s stock worth $2,586,000 after purchasing an additional 2,562 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in West Fraser Timber by 1.4% in the 1st quarter. Canada Pension Plan Investment Board now owns 232,019 shares of the company’s stock worth $20,053,000 after purchasing an additional 3,249 shares during the period. EJF Capital LLC grew its holdings in West Fraser Timber by 18.6% during the 1st quarter. EJF Capital LLC now owns 8,300 shares of the company’s stock valued at $717,000 after buying an additional 1,302 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of West Fraser Timber during the first quarter valued at approximately $218,000. Hedge funds and other institutional investors own 40.23% of the company’s stock.

West Fraser Timber Stock Down 1.1 %

WFG opened at $94.46 on Monday. The stock’s 50 day moving average price is $95.21 and its 200-day moving average price is $86.60. West Fraser Timber Co. Ltd. has a one year low of $72.35 and a one year high of $102.40.

West Fraser Timber (NYSE:WFG) last released its earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the business earned $1.81 EPS. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were issued a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 1.00%. West Fraser Timber’s payout ratio is -74.22%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Scotiabank increased their price objective 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. BMO Capital Markets boosted their target price on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $111.60.

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.