CIBC Asset Management Inc Sells 952 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

CIBC Asset Management Inc lessened its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFGFree Report) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,844 shares of the company’s stock after selling 952 shares during the quarter. CIBC Asset Management Inc owned about 0.07% of West Fraser Timber worth $4,879,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in WFG. Bfsg LLC acquired a new stake in West Fraser Timber in the 4th quarter worth approximately $42,000. Bank of Nova Scotia Trust Co. lifted its stake in shares of West Fraser Timber by 16.3% in the third quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock worth $236,000 after buying an additional 455 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of West Fraser Timber by 63.9% during the 4th quarter. Van ECK Associates Corp now owns 2,806 shares of the company’s stock worth $240,000 after buying an additional 1,094 shares during the period. Gold Investment Management Ltd. acquired a new position in West Fraser Timber in the 4th quarter valued at $265,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in West Fraser Timber in the 4th quarter worth $462,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

Analyst Ratings Changes

WFG has been the subject of a number of recent analyst reports. TD Securities upped their price target on shares of West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $97.00 target price on shares of West Fraser Timber in a research note on Thursday, March 28th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, West Fraser Timber presently has a consensus rating of “Buy” and an average target price of $106.25.

Get Our Latest Analysis on WFG

West Fraser Timber Stock Performance

Shares of WFG opened at $77.93 on Thursday. The company has a quick ratio of 1.33, a current ratio of 2.33 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $80.09 and a 200-day simple moving average of $80.62. West Fraser Timber Co. Ltd. has a 52 week low of $64.11 and a 52 week high of $90.17.

West Fraser Timber (NYSE:WFGGet Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.48. West Fraser Timber had a positive return on equity of 2.35% and a negative net margin of 1.39%. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.47 billion. During the same period in the previous year, the company posted ($0.52) earnings per share. The company’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts forecast that West Fraser Timber Co. Ltd. will post 4.73 EPS for the current fiscal year.

About West Fraser Timber

(Free Report)

West Fraser Timber Co Ltd., a diversified wood products company, engages in manufacturing, selling, marketing, and distributing lumber, engineered wood products, pulp, newsprint, wood chips, and other residuals and renewable energy. It offers spruce-pine-fir, douglas fir-larch, hem-fir, and southern yellow pine lumber, treated wood products, medium density fiberboard panels and plywood, oriented strand board, and laminated veneer lumber wood products, as well as particleboards.

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Institutional Ownership by Quarter for West Fraser Timber (NYSE:WFG)

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