Millennium Management LLC Grows Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Millennium Management LLC raised its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 31.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 120,391 shares of the company's stock after purchasing an additional 29,092 shares during the period. Millennium Management LLC owned about 0.15% of West Fraser Timber worth $10,422,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of WFG. FIL Ltd grew its holdings in West Fraser Timber by 35.5% in the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company's stock valued at $436,861,000 after purchasing an additional 1,319,843 shares during the last quarter. Norges Bank acquired a new stake in West Fraser Timber in the fourth quarter valued at $81,605,000. Price T Rowe Associates Inc. MD grew its holdings in West Fraser Timber by 56.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock valued at $187,126,000 after purchasing an additional 780,313 shares during the last quarter. Bank of America Corp DE grew its holdings in West Fraser Timber by 200.3% in the fourth quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock valued at $27,265,000 after purchasing an additional 210,107 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in West Fraser Timber by 60.7% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company's stock valued at $27,453,000 after purchasing an additional 119,841 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.

Analyst Ratings Changes

WFG has been the topic of a number of analyst reports. Raymond James decreased their price objective on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Royal Bank of Canada decreased their price objective on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. TD Securities decreased their price objective on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Scotiabank decreased their price objective on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, February 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, West Fraser Timber has an average rating of "Buy" and an average target price of $100.40.

West Fraser Timber Stock Performance

NYSE WFG traded up $1.19 during trading hours on Tuesday, hitting $74.51. 144,542 shares of the company's stock were exchanged, compared to its average volume of 176,686. The business's 50 day moving average is $74.60 and its 200-day moving average is $82.44. West Fraser Timber Co. Ltd. has a 12-month low of $69.48 and a 12-month high of $102.40. The firm has a market capitalization of $5.75 billion, a P/E ratio of -354.79 and a beta of 1.21.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.61 by ($0.15). The firm had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

West Fraser Timber 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.