Millennium Management LLC Acquires 29,092 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Millennium Management LLC lifted its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,391 shares of the company's stock after buying an additional 29,092 shares during the quarter. Millennium Management LLC owned about 0.15% of West Fraser Timber worth $10,422,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in WFG. Headlands Technologies LLC bought a new stake in shares of West Fraser Timber in the 4th quarter valued at approximately $35,000. Kestra Investment Management LLC bought a new stake in shares of West Fraser Timber in the 4th quarter valued at approximately $39,000. Signaturefd LLC grew its stake in shares of West Fraser Timber by 22.5% in the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company's stock valued at $93,000 after buying an additional 198 shares in the last quarter. Natixis grew its stake in shares of West Fraser Timber by 61.8% in the 4th quarter. Natixis now owns 1,605 shares of the company's stock valued at $139,000 after buying an additional 613 shares in the last quarter. Finally, Atria Wealth Solutions Inc. grew its stake in shares of West Fraser Timber by 4.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 2,879 shares of the company's stock valued at $250,000 after buying an additional 120 shares in the last quarter. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Up 1.2%

West Fraser Timber stock traded up $0.87 during trading hours on Thursday, reaching $73.58. 24,007 shares of the company were exchanged, compared to its average volume of 193,163. The firm has a market cap of $5.68 billion, a price-to-earnings ratio of -350.38 and a beta of 1.21. The stock has a 50-day moving average of $74.47 and a 200 day moving average of $82.32. West Fraser Timber Co. Ltd. has a 12 month low of $69.48 and a 12 month high of $102.40.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on WFG. Royal Bank of Canada lowered their price target on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Scotiabank lowered their price target on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating for the company in a research note on Tuesday, February 18th. Raymond James decreased their target price on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, TD Securities decreased their target price on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, West Fraser Timber has a consensus rating of "Buy" and an average target price of $100.40.

West Fraser Timber Company 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.