648,266 Shares in West Fraser Timber Co. Ltd. $WFG Acquired by Norges Bank

Norges Bank bought a new position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 648,266 shares of the company’s stock, valued at approximately $39,660,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jones Financial Companies Lllp grew its position in West Fraser Timber by 212.0% in the third quarter. Jones Financial Companies Lllp now owns 780 shares of the company’s stock valued at $52,000 after acquiring an additional 530 shares in the last quarter. Jain Global LLC acquired a new stake in West Fraser Timber in the third quarter valued at approximately $224,000. Park Avenue Securities LLC acquired a new stake in West Fraser Timber in the fourth quarter valued at approximately $229,000. Sei Investments Co. grew its position in West Fraser Timber by 29.8% in the second quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock valued at $291,000 after acquiring an additional 912 shares in the last quarter. Finally, FourThought Financial Partners LLC acquired a new stake in West Fraser Timber in the third quarter valued at approximately $303,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of West Fraser Timber in a research report on Monday, April 20th. Raymond James Financial downgraded shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $85.00 to $75.00 in a research report on Thursday, April 23rd. Zacks Research raised shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 24th. Royal Bank Of Canada lowered their price objective on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Finally, Fraser Mackenzie lowered their price objective on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research report on Friday, May 1st. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $82.60.

West Fraser Timber Stock Performance

West Fraser Timber stock opened at $64.79 on Tuesday. The stock has a market cap of $5.07 billion, a P/E ratio of -4.31 and a beta of 0.99. The company has a current ratio of 1.84, a quick ratio of 0.66 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $64.20 and a 200-day moving average of $64.90. West Fraser Timber Co. Ltd. has a 52 week low of $57.34 and a 52 week high of $78.55.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings data on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.32 billion. On average, analysts expect that West Fraser Timber Co. Ltd. will post -3.99 EPS for the current fiscal year.

West Fraser Timber 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.