Connor Clark & Lunn Investment Management Ltd. Has $27.45 Million Stock Position in 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 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 317,247 shares of the company’s stock after acquiring an additional 119,841 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in West Fraser Timber were worth $27,453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new stake in shares of West Fraser Timber during the fourth quarter valued at approximately $39,000. US Bancorp DE lifted its holdings in West Fraser Timber by 82.9% during the 3rd quarter. US Bancorp DE now owns 1,284 shares of the company’s stock worth $125,000 after buying an additional 582 shares in the last quarter. D.B. Root & Company LLC boosted its position in West Fraser Timber by 24.0% in the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock valued at $246,000 after buying an additional 549 shares during the last quarter. Atria Wealth Solutions Inc. increased its stake in shares of West Fraser Timber by 4.3% in the 4th 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 period. Finally, Quantinno Capital Management LP bought a new stake in shares of West Fraser Timber during the third quarter worth $258,000. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Trading Down 0.8 %

NYSE:WFG opened at $75.64 on Thursday. West Fraser Timber Co. Ltd. has a 1-year low of $73.91 and a 1-year high of $102.40. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of -360.20 and a beta of 1.23. The business’s 50-day moving average price is $83.80 and its two-hundred day moving average price is $89.69.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.

West Fraser Timber Announces Dividend

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

Wall Street Analyst Weigh In

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

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.