Impala Asset Management LLC Sells 15,400 Shares of West Fraser Timber Co. Ltd. $WFG

Key Points

• Impala Asset Management LLC sold 15,400 shares of West Fraser Timber Co. Ltd., reducing its stake by 11.9% during the 1st quarter, and now holds approximately 0.15% of the company.
• Other institutional investors like Allianz and Principal Financial Group increased their holdings in West Fraser Timber by 10.4% and 33.3%, respectively, during the same quarter.
• West Fraser Timber's stock recently received mixed ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $100.00, despite a recent downgrade by Wall Street Zen.

Impala Asset Management LLC reduced its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 11.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,900 shares of the company's stock after selling 15,400 shares during the quarter. West Fraser Timber makes up approximately 5.7% of Impala Asset Management LLC's holdings, making the stock its 7th largest holding. Impala Asset Management LLC owned about 0.15% of West Fraser Timber worth $8,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Allianz Asset Management GmbH boosted its holdings in shares of West Fraser Timber by 10.4% in the 1st quarter. Allianz Asset Management GmbH now owns 126,605 shares of the company's stock worth $9,723,000 after acquiring an additional 11,924 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in West Fraser Timber by 33.3% during the 1st quarter. Principal Financial Group Inc. now owns 16,263 shares of the company's stock worth $1,249,000 after buying an additional 4,061 shares in the last quarter. Invesco Ltd. lifted its holdings in West Fraser Timber by 44.5% during the 1st quarter. Invesco Ltd. now owns 112,431 shares of the company's stock worth $8,650,000 after buying an additional 34,599 shares in the last quarter. Intact Investment Management Inc. lifted its holdings in West Fraser Timber by 18.3% during the 1st quarter. Intact Investment Management Inc. now owns 23,900 shares of the company's stock worth $1,836,000 after buying an additional 3,700 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in West Fraser Timber by 134.2% during the 1st quarter. Cetera Investment Advisers now owns 7,159 shares of the company's stock worth $550,000 after buying an additional 4,102 shares in the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on WFG. Wall Street Zen downgraded West Fraser Timber from a "hold" rating to a "sell" rating in a report on Friday, July 18th. Raymond James Financial reissued a "market perform" rating on shares of West Fraser Timber in a research note on Monday, July 21st. Finally, TD Securities cut their price target on West Fraser Timber from $98.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, July 25th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $100.00.

West Fraser Timber Price Performance

WFG stock opened at $73.94 on Wednesday. The stock has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $74.53. The stock has a market cap of $5.66 billion, a PE ratio of -42.25 and a beta of 1.15. The company has a current ratio of 2.89, a quick ratio of 1.61 and a debt-to-equity ratio of 0.04. West Fraser Timber Co. Ltd. has a 1 year low of $68.63 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its earnings results on Wednesday, July 23rd. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.74). The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.61 billion. West Fraser Timber had a negative return on equity of 0.85% and a negative net margin of 2.18%. Equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

About West Fraser Timber

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.

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