Dynamic Technology Lab Private Ltd purchased a new position in West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,400 shares of the company’s stock, valued at approximately $462,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in West Fraser Timber in the fourth quarter valued at $76,413,000. Nicola Wealth Management LTD. bought a new stake in West Fraser Timber in the 4th quarter valued at about $3,569,000. Van ECK Associates Corp boosted its stake in West Fraser Timber by 63.9% during the 4th quarter. Van ECK Associates Corp now owns 2,806 shares of the company’s stock valued at $240,000 after purchasing an additional 1,094 shares during the period. Russell Investments Group Ltd. grew its position in West Fraser Timber by 0.7% in the 4th quarter. Russell Investments Group Ltd. now owns 76,836 shares of the company’s stock worth $6,607,000 after purchasing an additional 558 shares during the last quarter. Finally, Bfsg LLC acquired a new stake in shares of West Fraser Timber in the fourth quarter valued at approximately $42,000. Institutional investors and hedge funds own 40.23% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $97.00 price objective on shares of West Fraser Timber in a research report on Thursday, March 28th. TD Securities boosted their price target on West Fraser Timber from $115.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Finally, Raymond James raised their price target on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. Five equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $106.25.
Check Out Our Latest Report on West Fraser Timber
West Fraser Timber Stock Up 0.7 %
Shares of NYSE WFG opened at $81.80 on Friday. West Fraser Timber Co. Ltd. has a 1 year low of $64.11 and a 1 year high of $90.17. The stock has a fifty day moving average price of $81.07 and a two-hundred day moving average price of $80.38. The company has a quick ratio of 1.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.03.
West Fraser Timber (NYSE:WFG – Get Free Report) last announced its earnings results on Tuesday, April 23rd. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.48. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.47 billion. During the same quarter last year, the business posted ($0.52) earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.73 earnings per share for the current fiscal year.
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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