West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE increased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 200.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 315,019 shares of the company’s stock after purchasing an additional 210,107 shares during the period. Bank of America Corp DE owned 0.41% of West Fraser Timber worth $27,265,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC purchased a new position in West Fraser Timber during the 4th quarter worth $35,000. Kestra Investment Management LLC purchased a new position in West Fraser Timber during the 4th quarter worth $39,000. Signaturefd LLC raised its position in West Fraser Timber by 22.5% during the 4th quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock worth $93,000 after buying an additional 198 shares during the last quarter. Natixis raised its position in West Fraser Timber by 61.8% during the 4th quarter. Natixis now owns 1,605 shares of the company’s stock worth $139,000 after buying an additional 613 shares during the last quarter. Finally, D.B. Root & Company LLC raised its position in West Fraser Timber by 24.0% during the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company’s stock worth $246,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WFG shares. TD Securities cut their price objective on shares of West Fraser Timber from $99.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Royal Bank of Canada cut their price target on shares of West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Raymond James dropped their target price on shares of West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Finally, Scotiabank dropped their target price on shares of West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a report on Tuesday, February 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $100.40.

West Fraser Timber Stock Performance

WFG opened at $74.94 on Friday. The company’s 50 day simple moving average is $74.95 and its 200 day simple moving average is $83.26. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40. The stock has a market capitalization of $5.78 billion, a PE ratio of -356.86 and a beta of 1.21.

West Fraser Timber (NYSE:WFG) last released its earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

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, 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.