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

Cerity Partners LLC boosted its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 128.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 247,400 shares of the company’s stock after buying an additional 138,871 shares during the quarter. Cerity Partners LLC owned approximately 0.31% of West Fraser Timber worth $24,087,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WFG. Smead Capital Management Inc. raised its stake in shares of West Fraser Timber by 5.1% during the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock valued at $11,507,000 after acquiring an additional 5,743 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in West Fraser Timber during the 2nd quarter valued at approximately $42,886,000. Envestnet Asset Management Inc. purchased a new stake in West Fraser Timber in the 2nd quarter worth approximately $1,862,000. Pacifica Partners Inc. grew its position in shares of West Fraser Timber by 816.2% in the 3rd quarter. Pacifica Partners Inc. now owns 13,386 shares of the company’s stock worth $1,306,000 after buying an additional 11,925 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of West Fraser Timber by 7.5% during the third quarter. Vontobel Holding Ltd. now owns 571,583 shares of the company’s stock valued at $55,683,000 after buying an additional 39,651 shares during the period. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Stock Performance

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

West Fraser Timber (NYSE:WFG) last announced its earnings results on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. During the same quarter last year, the firm posted $1.81 EPS. As a group, equities analysts predict that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current year.

West Fraser Timber Cuts Dividend

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

Wall Street Analyst Weigh In

WFG has been the topic of several recent analyst reports. Scotiabank lifted their price target 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 raised their target price on shares of 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 equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.