23:38:11 EDT Fri 09 Jun 2023
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Inv Reporter says buy West Fraser Timber

2022-06-17 20:37 ET - In the News

The Investment Reporter, in its June 10, 2022, issue, says buy West Fraser Timber Co. Ltd., recently $116.31. The Reporter said to buy West Fraser 14 times from Nov. 27, 1997, to May 16, 2014, at prices ranging from $29.00 to $63.00 (the stock split 2:1 in January, 2014). Assuming a $1,000 investment for each of the 14 purchases, the $14,000 position would now be worth $80,370. West Fraser Timber is a Canadian forestry company that produces lumber, LVL, MDF, OSB, plywood, pulp, newsprint and wood chips. For the three months ended March 31, 2022, West Fraser earned $1.1-billion (U.S.), or $10.25 (U.S.) a diluted share, compared with earnings of $665-million (U.S.), or $6.96 (U.S.) a diluted share, in the same period of 2021. The increase was partly the result of higher prices charged for the company's products, but it also reflected West Fraser's acquisition of Norbord. In the first quarter, the company increased its quarterly dividend from 20 cents to 25 cents a share. It also bought back nearly four million shares in the first four months of the year and started a substantial issuer bid to buy back up to $1.3-billion worth of shares. The Reporter says buy West Fraser for growth and income.

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