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

TD Asset Management Inc decreased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 31.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & 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 owned about 0.23% of West Fraser Timber worth $10,628,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WFG. CenterBook Partners LP acquired a new stake in shares of West Fraser Timber in the third quarter valued at $1,358,000. Intact Investment Management Inc. grew its stake in shares of West Fraser Timber by 820.9% in the fourth quarter. Intact Investment Management Inc. now owns 94,850 shares of the company’s stock valued at $5,803,000 after buying an additional 84,550 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of West Fraser Timber by 77.7% in the third quarter. Envestnet Asset Management Inc. now owns 56,435 shares of the company’s stock valued at $3,837,000 after buying an additional 24,672 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of West Fraser Timber by 58.0% in the third quarter. Van ECK Associates Corp now owns 262,556 shares of the company’s stock valued at $17,845,000 after buying an additional 96,414 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of West Fraser Timber by 226.7% in the third quarter. Principal Financial Group Inc. now owns 32,112 shares of the company’s stock valued at $2,183,000 after buying an additional 22,283 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Price Performance

Shares of NYSE WFG opened at $66.57 on Wednesday. The stock’s 50-day moving average is $64.26 and its two-hundred day moving average is $64.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 0.66. West Fraser Timber Co. Ltd. has a 1-year low of $57.34 and a 1-year high of $78.55. The company has a market cap 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 results on Wednesday, April 29th. The company reported ($2.40) earnings per share for the quarter, missing the consensus estimate 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%. Analysts forecast that West Fraser Timber Co. Ltd. will post -3.99 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WFG. TD Securities reaffirmed a “buy” rating and issued a $86.00 price objective on shares of West Fraser Timber in a research note on Friday, May 1st. TD Cowen dropped their price objective on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Royal Bank Of Canada dropped 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. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Finally, Fraser Mackenzie cut their price target on West Fraser Timber from $88.00 to $86.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, West Fraser Timber presently has a consensus rating of “Hold” and a consensus price target of $82.60.

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.