Thrivent Financial for Lutherans Decreases Stock Position in West Fraser Timber Co. Ltd. $WFG

Thrivent Financial for Lutherans reduced its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 93.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 55,482 shares of the company’s stock after selling 841,370 shares during the period. Thrivent Financial for Lutherans’ holdings in West Fraser Timber were worth $3,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. MGO One Seven LLC raised its stake in West Fraser Timber by 66.9% during the 4th quarter. MGO One Seven LLC now owns 14,853 shares of the company’s stock valued at $908,000 after buying an additional 5,954 shares during the last quarter. Intact Investment Management Inc. raised its stake in West Fraser Timber by 820.9% during the 4th quarter. Intact Investment Management Inc. now owns 94,850 shares of the company’s stock valued at $5,803,000 after buying an additional 84,550 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in West Fraser Timber by 1.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 846,750 shares of the company’s stock valued at $51,871,000 after buying an additional 9,945 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in West Fraser Timber by 69.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,448 shares of the company’s stock valued at $1,069,000 after buying an additional 7,173 shares during the last quarter. Finally, Lightrock Netherlands B.V. raised its stake in West Fraser Timber by 16.1% during the 4th quarter. Lightrock Netherlands B.V. now owns 320,303 shares of the company’s stock valued at $19,574,000 after buying an additional 44,500 shares during the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Trading Up 0.6%

Shares of WFG stock opened at $62.25 on Friday. West Fraser Timber Co. Ltd. has a 1 year low of $57.34 and a 1 year high of $78.55. The firm has a fifty day moving average price of $63.53 and a 200-day moving average price of $64.30. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.84 and a quick ratio of 0.66. The company has a market cap of $4.73 billion, a price-to-earnings ratio of -4.14 and a beta of 0.97.

West Fraser Timber (NYSE:WFG) last issued its quarterly earnings data on Wednesday, April 29th. The company reported ($2.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.23) by ($1.17). West Fraser Timber had a negative net margin of 21.86% and a negative return on equity of 9.67%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.32 billion. As a group, equities analysts predict that West Fraser Timber Co. Ltd. will post -3.99 earnings per share for the current year.

Wall Street Analysts Forecast Growth

WFG has been the subject of a number of research reports. Fraser Mackenzie decreased their target price on shares of West Fraser Timber from $88.00 to $86.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Zacks Research upgraded shares of West Fraser Timber from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 24th. Raymond James Financial lowered shares of West Fraser Timber from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $85.00 to $75.00 in a research note on Thursday, April 23rd. Royal Bank Of Canada decreased their target price on shares of West Fraser Timber from $81.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Finally, TD Securities reiterated a “buy” rating and set a $86.00 target price on shares of West Fraser Timber in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, West Fraser Timber presently has an average rating of “Hold” and a consensus price target of $82.60.

West Fraser Timber Profile

West Fraser Timber Co Ltd. (NYSE: WFG) is a leading North American diversified wood products company headquartered in Vancouver, British Columbia. The company operates a broad portfolio of manufacturing facilities that produce lumber, engineered wood products such as laminated veneer lumber (LVL), oriented strand board (OSB) and plywood, as well as medium density fibreboard (MDF), particleboard, pulp and paper. West Fraser’s integrated production model spans harvesting, milling and finishing, allowing it to serve a wide range of residential, commercial and industrial construction markets.

Founded in 1955 as West Fraser Mills, the company has grown through both organic investment and strategic acquisitions to become one of the largest lumber producers in the world.