Canada Pension Plan Investment Board cut its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Free Report) by 5.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 259,770 shares of the company’s stock after selling 15,600 shares during the period. Canada Pension Plan Investment Board owned 0.32% of West Fraser Timber worth $18,947,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Personalized Indexing Management LLC lifted its position in West Fraser Timber by 3.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 5,315 shares of the company’s stock worth $457,000 after acquiring an additional 154 shares during the last quarter. AXA S.A. increased its stake in West Fraser Timber by 5.3% in the first quarter. AXA S.A. now owns 3,846 shares of the company’s stock valued at $274,000 after acquiring an additional 193 shares during the last quarter. Moors & Cabot Inc. increased its stake in West Fraser Timber by 8.4% in the first quarter. Moors & Cabot Inc. now owns 2,525 shares of the company’s stock valued at $208,000 after acquiring an additional 195 shares during the last quarter. Cidel Asset Management Inc. increased its stake in West Fraser Timber by 0.5% in the second quarter. Cidel Asset Management Inc. now owns 65,144 shares of the company’s stock valued at $5,603,000 after acquiring an additional 328 shares during the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of West Fraser Timber by 0.3% during the third quarter. Baird Financial Group Inc. now owns 98,880 shares of the company’s stock worth $7,168,000 after buying an additional 340 shares during the last quarter. 46.23% of the stock is currently owned by institutional investors and hedge funds.
West Fraser Timber Trading Up 1.2 %
Shares of WFG stock opened at $78.27 on Monday. West Fraser Timber Co. Ltd. has a 52-week low of $64.11 and a 52-week high of $90.17. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.47 and a current ratio of 3.51. The company has a 50-day simple moving average of $81.63 and a two-hundred day simple moving average of $76.37. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -55.51 and a beta of 1.17.
West Fraser Timber Announces Dividend
Analyst Upgrades and Downgrades
WFG has been the topic of several recent analyst reports. Raymond James boosted their target price on shares of West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. TheStreet upgraded shares of West Fraser Timber from a “d+” rating to a “c” rating in a report on Friday, October 27th. Royal Bank of Canada dropped their price objective on shares of West Fraser Timber from $95.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, December 19th. Finally, Scotiabank set a $100.00 price objective on shares of West Fraser Timber and gave the company an “outperform” rating in a report on Monday, January 22nd. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $103.75.
West Fraser Timber Profile
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 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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