Michael T. Waites Buys 65,000 Shares of Western Forest Products Inc (WEF) Stock

Western Forest Products Inc (TSE:WEF) Director Michael T. Waites bought 65,000 shares of Western Forest Products stock in a transaction on Wednesday, November 28th. The shares were purchased at an average cost of C$1.85 per share, for a total transaction of C$120,250.00.

Shares of Western Forest Products stock opened at C$1.96 on Friday. Western Forest Products Inc has a twelve month low of C$1.74 and a twelve month high of C$2.95.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, December 14th will be given a dividend of $0.0225 per share. This represents a $0.09 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Thursday, November 29th. Western Forest Products’s payout ratio is 40.48%.

A number of brokerages have recently weighed in on WEF. CIBC dropped their price target on Western Forest Products from C$3.25 to C$3.00 in a research report on Wednesday, August 8th. TD Securities dropped their price target on Western Forest Products from C$3.50 to C$3.25 and set a “buy” rating on the stock in a research report on Tuesday, August 7th. Raymond James reiterated a “strong-buy” rating and set a C$3.00 price target on shares of Western Forest Products in a research report on Wednesday, November 21st. Finally, Scotiabank reiterated an “average” rating and set a C$2.75 price target on shares of Western Forest Products in a research report on Friday, November 9th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of C$2.90.

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Western Forest Products Company Profile

Western Forest Products Inc operates as an integrated forest products company. The company is involved in timber harvesting, sawmilling logs into specialty lumber, and value-added lumber remanufacturing. It offers lumber and logs from various tree species, such as western red cedar, hem-fir, Douglas fir, yellow cedar, and Sitka spruce.

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