Letko Brosseau & Associates Inc. Has $71.76 Million Stock Position in West Fraser Timber Co. Ltd. $WFG

Letko Brosseau & Associates Inc. grew its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,171,348 shares of the company’s stock after purchasing an additional 22,179 shares during the period. Letko Brosseau & Associates Inc.’s holdings in West Fraser Timber were worth $71,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of West Fraser Timber by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 2,174,528 shares of the company’s stock worth $147,829,000 after acquiring an additional 22,443 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of West Fraser Timber by 89.5% in the 3rd quarter. Mackenzie Financial Corp now owns 1,720,094 shares of the company’s stock worth $116,910,000 after acquiring an additional 812,474 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of West Fraser Timber by 1.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 846,750 shares of the company’s stock worth $51,871,000 after acquiring an additional 9,945 shares during the last quarter. Norges Bank acquired a new stake in shares of West Fraser Timber in the 4th quarter worth about $39,660,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of West Fraser Timber by 27.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 367,049 shares of the company’s stock worth $22,430,000 after acquiring an additional 78,862 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Trading Up 2.5%

Shares of WFG stock opened at $66.57 on Wednesday. West Fraser Timber Co. Ltd. has a 52-week low of $57.34 and a 52-week high of $78.55. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 1.84. The company has a 50-day simple moving average of $64.26 and a two-hundred day simple moving average of $64.95. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -4.43 and a beta of 0.99.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($1.17). West Fraser Timber had a negative return on equity of 9.67% and a negative net margin of 21.86%.The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.32 billion. Research analysts anticipate that West Fraser Timber Co. Ltd. will post -3.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WFG shares. Raymond James Financial lowered shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $85.00 to $75.00 in a report on Thursday, April 23rd. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 24th. Royal Bank Of Canada lowered their target price on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. TD Cowen lowered their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Finally, TD Securities restated a “buy” rating and issued a $86.00 target price on shares of West Fraser Timber in a report on Friday, May 1st. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.60.

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.