West Fraser Timber Co. Ltd. (NYSE:WFG) Stock Position Reduced by Nuveen Asset Management LLC

Nuveen Asset Management LLC reduced its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 22.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,341 shares of the company's stock after selling 15,934 shares during the period. Nuveen Asset Management LLC owned 0.07% of West Fraser Timber worth $4,793,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Headlands Technologies LLC acquired a new stake in shares of West Fraser Timber in the 4th quarter worth approximately $35,000. Kestra Investment Management LLC acquired a new stake in shares of West Fraser Timber in the 4th quarter worth approximately $39,000. Signaturefd LLC lifted 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 worth $93,000 after acquiring an additional 198 shares during the period. Natixis lifted 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 worth $139,000 after acquiring an additional 613 shares during the period. Finally, Atria Wealth Solutions Inc. raised its holdings 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 worth $250,000 after purchasing an additional 120 shares in the last quarter. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Up 1.5%

Shares of WFG stock traded up $1.10 during trading hours on Wednesday, reaching $74.59. 208,636 shares of the stock traded hands, compared to its average volume of 177,468. West Fraser Timber Co. Ltd. has a 1-year low of $69.48 and a 1-year high of $102.40. The business has a fifty day moving average price of $74.15 and a 200 day moving average price of $81.69. The firm has a market capitalization of $5.75 billion, a PE ratio of -355.19 and a beta of 1.17.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly 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 negative net margin of 0.08% and a positive return on equity of 0.88%. The firm had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.53 billion. Research analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WFG. TD Securities dropped their target price on shares of West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Royal Bank of Canada dropped their target price on shares of West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Scotiabank dropped their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a report on Tuesday, February 18th. Finally, Raymond James dropped their target price on shares of West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $100.40.

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.