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

Royal Bank of Canada boosted its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 approximately 3.84% of West Fraser Timber worth $257,974,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in West Fraser Timber during the fourth quarter valued at approximately $52,000. Point72 Asset Management L.P. grew its holdings in West Fraser Timber by 622.3% during the fourth quarter. Point72 Asset Management L.P. now owns 21,791 shares of the company's stock valued at $1,886,000 after purchasing an additional 18,774 shares during the last quarter. Quantinno Capital Management LP grew its holdings in West Fraser Timber by 59.8% during the fourth quarter. Quantinno Capital Management LP now owns 4,228 shares of the company's stock valued at $366,000 after purchasing an additional 1,582 shares during the last quarter. Millennium Management LLC grew its holdings in West Fraser Timber by 31.9% during the fourth quarter. Millennium Management LLC now owns 120,391 shares of the company's stock valued at $10,422,000 after purchasing an additional 29,092 shares during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in West Fraser Timber by 54.9% during the fourth quarter. Janus Henderson Group PLC now owns 115,901 shares of the company's stock valued at $9,920,000 after purchasing an additional 41,087 shares during the last quarter. Institutional investors own 40.23% of the company's stock.

West Fraser Timber Trading Up 0.6%

Shares of West Fraser Timber stock opened at $74.94 on Friday. The company's fifty day simple moving average is $74.95 and its 200-day simple moving average is $83.26. The company has a market cap of $5.78 billion, a price-to-earnings ratio of -356.86 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates 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, research analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on WFG shares. Royal Bank of Canada lowered their price target on 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 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 lowered their price target on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, TD Securities lowered their price target 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target 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.

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