West Fraser Timber Co. Ltd. $WFG Shares Sold by UBS Group AG

UBS Group AG cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 74.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,899 shares of the company’s stock after selling 133,002 shares during the quarter. UBS Group AG owned about 0.06% of West Fraser Timber worth $2,744,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its stake in shares of West Fraser Timber by 31,861.9% during the third quarter. Thrivent Financial for Lutherans now owns 896,852 shares of the company’s stock worth $60,968,000 after acquiring an additional 894,046 shares during the period. CenterBook Partners LP acquired a new position in shares of West Fraser Timber during the third quarter worth about $1,358,000. Envestnet Asset Management Inc. increased its stake in shares of West Fraser Timber by 77.7% during the third quarter. Envestnet Asset Management Inc. now owns 56,435 shares of the company’s stock worth $3,837,000 after acquiring an additional 24,672 shares during the period. Van ECK Associates Corp increased its stake in shares of West Fraser Timber by 58.0% during the third quarter. Van ECK Associates Corp now owns 262,556 shares of the company’s stock worth $17,845,000 after acquiring an additional 96,414 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of West Fraser Timber by 41.2% during the third quarter. TD Asset Management Inc now owns 252,611 shares of the company’s stock worth $17,177,000 after acquiring an additional 73,727 shares during the period. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. TD Cowen dropped their price target on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Royal Bank Of Canada dropped their price target on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Fraser Mackenzie dropped their price target on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a research note on Friday, May 1st. Finally, TD Securities reiterated a “buy” rating and set a $86.00 price target on shares of West Fraser Timber in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s 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 Stock Up 0.2%

WFG stock opened at $62.25 on Tuesday. The company has a market cap of $4.73 billion, a P/E ratio of -4.14 and a beta of 0.97. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $78.55. The company’s 50-day moving average price is $63.51 and its 200 day moving average price is $64.35. The company has a current ratio of 1.84, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05.

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

About West Fraser Timber

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.