West Fraser Timber Co. Ltd. $WFG Shares Sold by TD Asset Management Inc

TD Asset Management Inc lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 31.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,489 shares of the company’s stock after selling 79,122 shares during the quarter. TD Asset Management Inc’s holdings in West Fraser Timber were worth $10,628,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Baird Financial Group Inc. raised its stake in West Fraser Timber by 2.1% during the 2nd quarter. Baird Financial Group Inc. now owns 23,919 shares of the company’s stock worth $1,753,000 after acquiring an additional 500 shares in the last quarter. Jones Financial Companies Lllp lifted 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 during the last quarter. Cetera Investment Advisers boosted its stake in West Fraser Timber by 9.0% in the second quarter. Cetera Investment Advisers now owns 7,800 shares of the company’s stock valued at $571,000 after acquiring an additional 641 shares in the last quarter. Sei Investments Co. grew its holdings in shares of West Fraser Timber by 29.8% during the second quarter. Sei Investments Co. now owns 3,975 shares of the company’s stock worth $291,000 after purchasing an additional 912 shares during the last quarter. Finally, Creative Planning grew its holdings in shares of West Fraser Timber by 14.5% during the third quarter. Creative Planning now owns 8,627 shares of the company’s stock worth $586,000 after purchasing an additional 1,092 shares during the last quarter. 40.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WFG has been the subject of several research reports. Weiss Ratings reissued a “sell (d)” rating on shares of West Fraser Timber in a report on Monday, April 20th. Zacks Research upgraded West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Royal Bank Of Canada reduced their price objective on West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. TD Cowen decreased their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Fraser Mackenzie 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 research report on Friday, May 1st. Four research 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 company currently has a consensus rating of “Hold” and a consensus price target of $82.60.

West Fraser Timber Stock Performance

NYSE WFG opened at $66.57 on Wednesday. The stock has a market capitalization of $5.21 billion, a price-to-earnings ratio of -4.43 and a beta of 0.99. The business’s 50 day moving average is $64.26 and its two-hundred day moving average is $64.95. West Fraser Timber Co. Ltd. has a 12-month low of $57.34 and a 12-month high of $78.55. 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 posted its quarterly earnings results on Wednesday, April 29th. The company reported ($2.40) EPS for the quarter, missing the consensus estimate of ($1.23) by ($1.17). West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.32 billion. Research analysts expect that West Fraser Timber Co. Ltd. will post -3.99 EPS for the current 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.