Janus Henderson Group PLC Purchases 59,347 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Janus Henderson Group PLC increased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 383.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,814 shares of the company's stock after purchasing an additional 59,347 shares during the quarter. Janus Henderson Group PLC owned 0.09% of West Fraser Timber worth $7,296,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WFG. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of West Fraser Timber by 28.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,066 shares of the company's stock valued at $3,713,000 after acquiring an additional 8,372 shares during the period. FMR LLC grew its position in shares of West Fraser Timber by 22.5% during the third quarter. FMR LLC now owns 1,447,823 shares of the company's stock worth $141,047,000 after purchasing an additional 266,298 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in West Fraser Timber by 43.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 143,712 shares of the company's stock valued at $14,008,000 after purchasing an additional 43,549 shares during the period. Cerity Partners LLC lifted its holdings in West Fraser Timber by 128.0% in the 3rd 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in West Fraser Timber by 1.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company's stock worth $29,777,000 after purchasing an additional 4,945 shares during the period. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 1.0 %

Shares of WFG stock traded down $0.97 on Tuesday, reaching $92.53. The company's stock had a trading volume of 212,448 shares, compared to its average volume of 157,637. The stock's fifty day simple moving average is $95.42 and its 200-day simple moving average is $87.90. West Fraser Timber Co. Ltd. has a 1 year low of $72.56 and a 1 year high of $102.40. The company has a market capitalization of $7.43 billion, a price-to-earnings ratio of -72.29 and a beta of 1.19.

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

Analyst Upgrades and Downgrades

WFG has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on shares of West Fraser Timber from $105.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Scotiabank boosted their price target on shares of West Fraser Timber from $100.00 to $120.00 and gave the stock a "sector outperform" rating in a research note on Friday, October 25th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $111.60.

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.