Sun Sep 15 13:44:49 UTC 2024: ## Oppenheimer & Co. Inc. Sells Off West Fraser Timber Shares

**New York, NY – September 15, 2024** – Investment firm Oppenheimer & Co. Inc. has reduced its holdings in West Fraser Timber Co. Ltd. (NYSE: WFG) by 35.1% in the second quarter, according to a recent Form 13F filing with the Securities & Exchange Commission. This move follows a trend of other large investors adjusting their positions in the diversified wood products company.

Oppenheimer now owns 53,545 shares of West Fraser Timber, representing approximately 0.07% of the company’s stock, valued at $4,116,000.

Other notable changes in institutional ownership include Norges Bank acquiring a new stake worth $76,413,000, Manning & Napier Advisors LLC purchasing a new stake valued at $42,886,000, and 1832 Asset Management L.P. increasing its holdings by 178.5%. Goldman Sachs Group Inc. also boosted its position by 161.7% during the fourth quarter.

West Fraser Timber opened at $90.51 on Friday. The company currently has a market capitalization of $7.11 billion, a P/E ratio of -74.80, and a beta of 1.16.

The company recently announced a quarterly dividend of $0.237 per share, payable on October 11th. This represents an annualized dividend of $0.95 and a yield of 1.05%.

Several analysts have recently weighed in on West Fraser Timber. BMO Capital Markets raised their price target to $105.00 and maintained an “outperform” rating, while Royal Bank of Canada boosted their target price to $100.00 with an “outperform” rating. Overall, four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating. According to MarketBeat.com, West Fraser Timber has an average rating of “Buy” and an average price target of $105.60.

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