Royal Bank of Canada Acquires 8,760 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Royal Bank of Canada increased its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,980,619 shares of the company's stock after acquiring an additional 8,760 shares during the quarter. Royal Bank of Canada owned about 3.84% of West Fraser Timber worth $257,974,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of WFG. FIL Ltd lifted its stake in West Fraser Timber by 35.5% in the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company's stock worth $436,861,000 after purchasing an additional 1,319,843 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of West Fraser Timber by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company's stock worth $246,652,000 after purchasing an additional 12,874 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of 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 worth $187,126,000 after buying an additional 780,313 shares in the last quarter. Norges Bank bought a new stake in West Fraser Timber during the fourth quarter valued at $81,605,000. Finally, Manning & Napier Advisors LLC boosted its stake in West Fraser Timber by 14.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company's stock valued at $73,830,000 after buying an additional 109,447 shares during the period. Hedge funds and other institutional investors own 40.23% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on WFG shares. Scotiabank lowered their price target on 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. Raymond James decreased their price objective on shares of 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. Royal Bank of Canada lowered 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 research note on Tuesday, April 22nd. Finally, TD Securities dropped their target price on shares of 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 investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber presently has an average rating of "Buy" and a consensus target price of $100.40.

West Fraser Timber Price Performance

WFG stock traded down $0.21 during mid-day trading on Friday, hitting $73.16. 21,625 shares of the stock were exchanged, compared to its average volume of 195,266. The business has a fifty day moving average price of $74.78 and a 200 day moving average price of $82.84. West Fraser Timber Co. Ltd. has a 12 month low of $69.48 and a 12 month high of $102.40. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -348.37 and a beta of 1.21.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share 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 the consensus estimate 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 analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

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.