Point72 Asset Management L.P. lifted its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 622.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,791 shares of the company's stock after acquiring an additional 18,774 shares during the quarter. Point72 Asset Management L.P.'s holdings in West Fraser Timber were worth $1,886,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in WFG. FIL Ltd raised its holdings in West Fraser Timber by 35.5% in the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company's stock valued at $436,861,000 after acquiring an additional 1,319,843 shares in the last quarter. Norges Bank acquired a new position in West Fraser Timber in the 4th quarter valued at approximately $81,605,000. Price T Rowe Associates Inc. MD raised its holdings in West Fraser Timber by 56.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock valued at $187,126,000 after acquiring an additional 780,313 shares in the last quarter. Bank of America Corp DE raised its holdings in West Fraser Timber by 200.3% in the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company's stock valued at $27,265,000 after acquiring an additional 210,107 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of West Fraser Timber by 60.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company's stock worth $27,453,000 after buying an additional 119,841 shares in the last quarter. Institutional investors own 40.23% of the company's stock.
West Fraser Timber Price Performance
NYSE WFG traded up $1.26 during trading on Tuesday, reaching $74.58. 31,638 shares of the company's stock were exchanged, compared to its average volume of 176,259. The business has a 50 day moving average price of $74.60 and a 200-day moving average price of $82.44. The stock has a market capitalization of $5.75 billion, a P/E ratio of -355.14 and a beta of 1.21. West Fraser Timber Co. Ltd. has a fifty-two week low of $69.48 and a fifty-two week high of $102.40.
West Fraser Timber (NYSE:WFG - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.53 billion. On average, analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current year.
Analysts Set New Price Targets
WFG has been the subject of a number of recent research reports. Royal Bank of Canada dropped their target price on West Fraser Timber from $117.00 to $99.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Raymond James decreased their price target on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Scotiabank reduced their price target on West Fraser Timber from $109.00 to $100.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, February 18th. Finally, TD Securities reduced their target price on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $100.40.
Check Out Our Latest Stock Report on West Fraser Timber
About West Fraser Timber
(
Free Report)
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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