West Fraser Timber Co. Ltd. $WFG Shares Bought by SailingStone Capital Partners LLC

Key Points

• SailingStone Capital Partners increased its West Fraser Timber stake by 57.8% in the second quarter, purchasing 150,978 shares to reach 412,177 shares valued at approximately $27.9 million.
• Several institutional investors also built positions in WFG, while institutional investors and hedge funds collectively owned 40.23% of the company.
• Analyst sentiment remains mixed, with an overall “Hold” rating and a consensus price target of $83.20. West Fraser recently reported a quarterly loss of $0.78 per share, missing estimates, and shares were trading near $68.55.

SailingStone Capital Partners LLC raised its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 57.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 412,177 shares of the company's stock after purchasing an additional 150,978 shares during the quarter. West Fraser Timber accounts for approximately 5.4% of SailingStone Capital Partners LLC's investment portfolio, making the stock its 7th biggest holding. SailingStone Capital Partners LLC owned 0.53% of West Fraser Timber worth $27,900,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFG. Donald Smith & CO. Inc. acquired a new position in shares of West Fraser Timber in the 2nd quarter valued at about $110,334,000. Manning & Napier Advisors LLC purchased a new position in West Fraser Timber during the second quarter valued at approximately $86,416,000. Price T Rowe Associates Inc. MD raised its position in West Fraser Timber by 28.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,613,139 shares of the company's stock valued at $220,799,000 after acquiring an additional 802,477 shares in the last quarter. Atlas FRM LLC acquired a new position in West Fraser Timber in the second quarter valued at approximately $50,090,600. Finally, Norges Bank acquired a new position in West Fraser Timber in the fourth quarter valued at approximately $39,660,000. 40.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on WFG. Zacks Research raised shares of West Fraser Timber from a "strong sell" rating to a "hold" rating in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of West Fraser Timber in a research note on Friday, July 31st. TD Securities restated a "buy" rating on shares of West Fraser Timber in a research report on Friday, July 31st. Wall Street Zen raised shares of West Fraser Timber from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Finally, Weiss Ratings downgraded shares of West Fraser Timber from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Four research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $83.20.

West Fraser Timber Trading Up 0.3%

Shares of WFG stock opened at $68.55 on Thursday. West Fraser Timber Co. Ltd. has a 1-year low of $57.34 and a 1-year high of $76.99. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -4.44 and a beta of 1.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.06 and a quick ratio of 0.83. The stock has a 50 day simple moving average of $68.38 and a 200-day simple moving average of $66.26.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.08). The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.45 billion. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. On average, equities research analysts expect that West Fraser Timber Co. Ltd. will post -3.77 EPS for the current fiscal year.

West Fraser Timber Company Profile

West Fraser Timber Co Ltd. NYSE: WFG is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser's integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.

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