Letko Brosseau & Associates Inc. increased its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) by 1.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,171,348 shares of the company’s stock after purchasing an additional 22,179 shares during the quarter. Letko Brosseau & Associates Inc. owned approximately 1.54% of West Fraser Timber worth $71,755,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. LPL Financial LLC grew its stake in shares of West Fraser Timber by 24.1% in the fourth quarter. LPL Financial LLC now owns 13,984 shares of the company’s stock worth $855,000 after purchasing an additional 2,712 shares during the last quarter. CenterBook Partners LP grew its stake in shares of West Fraser Timber by 26.0% in the fourth quarter. CenterBook Partners LP now owns 25,171 shares of the company’s stock worth $1,538,000 after purchasing an additional 5,192 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of West Fraser Timber by 27.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 367,049 shares of the company’s stock worth $22,430,000 after purchasing an additional 78,862 shares during the last quarter. One Capital Management LLC bought a new stake in shares of West Fraser Timber in the fourth quarter worth $325,000. Finally, Norges Bank bought a new stake in shares of West Fraser Timber in the fourth quarter worth $39,660,000. Institutional investors own 40.23% of the company’s stock.
Analyst Ratings Changes
Several analysts recently weighed in on WFG shares. TD Cowen reduced their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Weiss Ratings restated a “sell (d)” rating on shares of West Fraser Timber in a report on Monday, April 20th. Fraser Mackenzie dropped their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada dropped their target price on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $82.60.
West Fraser Timber Price Performance
WFG stock opened at $66.57 on Wednesday. The company’s fifty day simple moving average is $64.26 and its 200 day simple moving average is $64.95. West Fraser Timber Co. Ltd. has a 12-month low of $57.34 and a 12-month high of $78.55. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -4.43 and a beta of 0.99. The company has a quick ratio of 0.66, a current ratio of 1.84 and a debt-to-equity ratio of 0.05.
West Fraser Timber (NYSE:WFG – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($1.17). West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.32 billion. On average, analysts expect that West Fraser Timber Co. Ltd. will post -3.99 earnings per share for the current year.
West Fraser Timber Company Profile
West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.
Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.
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