Legal & General Group Plc Has $6.86 Million Stock Position in West Fraser Timber Co. Ltd. $WFG

Legal & General Group Plc reduced its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 40.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 111,957 shares of the company’s stock after selling 74,990 shares during the period. Legal & General Group Plc’s holdings in West Fraser Timber were worth $6,858,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CenterBook Partners LP acquired a new position in shares of West Fraser Timber in the third quarter worth approximately $1,358,000. Intact Investment Management Inc. lifted 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 worth $5,803,000 after acquiring an additional 84,550 shares during the period. Envestnet Asset Management Inc. lifted 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 worth $3,837,000 after acquiring an additional 24,672 shares during the period. Van ECK Associates Corp lifted 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 worth $17,845,000 after acquiring an additional 96,414 shares during the period. Finally, TD Asset Management Inc lifted its stake in shares of West Fraser Timber by 41.2% in 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 owned by institutional investors and hedge funds.

West Fraser Timber Price Performance

West Fraser Timber stock opened at $65.97 on Friday. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of -4.39 and a beta of 0.99. West Fraser Timber Co. Ltd. has a 52-week low of $57.34 and a 52-week high of $78.55. The stock’s 50 day moving average price is $64.17 and its two-hundred day moving average price is $64.81. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.66 and a current ratio of 1.84.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings results 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 business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. On average, equities analysts predict that West Fraser Timber Co. Ltd. will post -3.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WFG has been the topic of a number of recent analyst reports. Zacks Research raised West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. TD Cowen cut their price objective on 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. Weiss Ratings reaffirmed a “sell (d)” rating on shares of West Fraser Timber in a research note on Monday, April 20th. Royal Bank Of Canada cut their price target on West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. 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 research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.