Amundi lowered its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 16.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 159,700 shares of the company's stock after selling 32,316 shares during the period. Amundi owned approximately 0.20% of West Fraser Timber worth $10,810,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in West Fraser Timber by 28.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,613,139 shares of the company's stock worth $220,799,000 after purchasing an additional 802,477 shares during the period. Royal Bank of Canada raised its holdings in shares of West Fraser Timber by 10.3% during the 1st quarter. Royal Bank of Canada now owns 3,450,867 shares of the company's stock valued at $225,306,000 after buying an additional 321,102 shares during the period. Mackenzie Financial Corp raised its holdings in shares of West Fraser Timber by 6.8% during the 4th quarter. Mackenzie Financial Corp now owns 1,836,255 shares of the company's stock valued at $111,668,000 after buying an additional 116,161 shares during the period. Donald Smith & CO. Inc. purchased a new position in shares of West Fraser Timber in the second quarter valued at $110,334,000. Finally, Manning & Napier Advisors LLC purchased a new position in West Fraser Timber in the 2nd quarter valued at about $86,416,000. Institutional investors and hedge funds own 40.23% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on the stock. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of West Fraser Timber in a report on Friday, July 31st. Weiss Ratings cut shares of West Fraser Timber from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Royal Bank Of Canada decreased their price target on West Fraser Timber from $85.00 to $83.00 and set an "outperform" rating for the company in a research note on Friday, July 31st. Wall Street Zen raised West Fraser Timber from a "strong sell" rating to a "sell" rating in a report on Saturday, August 1st. Finally, TD Securities restated a "buy" rating on shares of West Fraser Timber in a research note on Friday, July 31st. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, West Fraser Timber has an average rating of "Hold" and an average target price of $83.20.
Get Our Latest Analysis on WFG
West Fraser Timber Price Performance
Shares of WFG opened at $69.05 on Friday. West Fraser Timber Co. Ltd. has a one year low of $57.34 and a one year high of $76.99. The stock's fifty day moving average is $68.33 and its 200-day moving average is $66.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.83 and a current ratio of 2.06. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of -4.47 and a beta of 1.00.
West Fraser Timber (NYSE:WFG - Get Free Report) last announced its 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 the consensus estimate of $1.45 billion. West Fraser Timber had a negative net margin of 22.98% and a negative return on equity of 10.84%. Equities analysts anticipate that West Fraser Timber Co. Ltd. will post -3.77 EPS for the current year.
About West Fraser Timber
(
Free Report)
West Fraser Timber Co Ltd. is a diversified forest products company headquartered in Vancouver, British Columbia. Founded in 1955, the company has grown from a regional lumber producer into an international manufacturer and marketer of wood products, pulp and paper.
West Fraser produces dimensional lumber, engineered wood products, oriented strand board, plywood, pulp, newsprint and specialty papers. Its products are used in residential and commercial construction, repair and remodeling, packaging, printing and other industrial applications.
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