National Bank of Canada FI Sells 7,383 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

National Bank of Canada FI cut its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 6.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,797 shares of the company's stock after selling 7,383 shares during the period. National Bank of Canada FI owned approximately 0.13% of West Fraser Timber worth $9,913,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of WFG. Smead Capital Management Inc. grew its position in shares of West Fraser Timber by 5.1% during the 3rd quarter. Smead Capital Management Inc. now owns 118,108 shares of the company's stock worth $11,507,000 after purchasing an additional 5,743 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of West Fraser Timber in the second quarter valued at approximately $1,862,000. Janus Henderson Group PLC increased its stake in West Fraser Timber by 383.7% during the 3rd quarter. Janus Henderson Group PLC now owns 74,814 shares of the company's stock worth $7,296,000 after acquiring an additional 59,347 shares during the period. Cerity Partners LLC increased its position in shares of West Fraser Timber by 128.0% in the third quarter. Cerity Partners LLC now owns 247,400 shares of the company's stock worth $24,087,000 after purchasing an additional 138,871 shares during the period. Finally, Pacifica Partners Inc. increased its holdings in West Fraser Timber by 816.2% in the 3rd quarter. Pacifica Partners Inc. now owns 13,386 shares of the company's stock valued at $1,306,000 after buying an additional 11,925 shares during the period. Institutional investors and hedge funds own 40.23% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on WFG. Scotiabank lifted their price objective on shares of West Fraser Timber from $100.00 to $120.00 and gave the company a "sector outperform" rating in a research note on Friday, October 25th. BMO Capital Markets lifted their price target on West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average price target of $111.60.

West Fraser Timber Stock Performance

Shares of WFG traded down $0.84 during trading hours on Thursday, reaching $92.17. The stock had a trading volume of 141,417 shares, compared to its average volume of 157,540. West Fraser Timber Co. Ltd. has a 12 month low of $72.56 and a 12 month high of $102.40. The stock has a market capitalization of $7.40 billion, a PE ratio of -72.66 and a beta of 1.19. The company's 50-day moving average is $95.31 and its two-hundred day moving average is $87.94.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.87). The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.45 billion. West Fraser Timber had a positive return on equity of 0.53% and a negative net margin of 1.53%. During the same quarter last year, the firm posted $1.81 earnings per share. Equities analysts anticipate that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current fiscal year.

West Fraser Timber Company 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.