West Fraser Timber Co Ltd T.WFG

BAM???

[lifeisgood1010]

Weird, i don't know were the Globe got it's info.

I assume it's accurante but when i go on SEDI.It still show BAM as holder of 
9,913,974 share.They sold 13,568,010 shares.

In any event we all know that BAM as entered with a third party to sell 5.15 million more
shares to bring their holding to 4.75 million.

If the Globe info. is accurate, it would explain this short term weakness in the SP.

The Globe and Mail reports in its Friday edition that Brookfield Asset Management has sold more than $1.25-billion in shares of West Fraser Timber over the past 10 weeks, taking advantage of a fiery-hot market for wood and all manner of construction products. The Globe's David Milstead writes that the sales, totalling 14.8 million shares, have cut Brookfield's ownership of West Fraser from nearly 20 per cent to 7.3 per cent. In the past two weeks, Brookfield has sold nearly 1.24 million shares for $128-million. Brookfield is a new shareholder of West Fraser: It received its shares on Feb. 1, when West Fraser bought Norbord Inc. in an all-stock transaction. Brookfield owned 43 per cent of Norbord, and had three executives on the Norbord board. The sales represent an unwinding of one of Brookfield's longest-held positions. Brookfield can trace its stake back decades, when it was called Brascan Financial Corp. and it held a major position in Noranda Inc. In 1998, Noranda spun off its building-products division, calling it Nexfor Inc. In 2004, Nexfor did another spinoff and renamed itself Norbord. The sale is in keeping with Brookfield's strategy focusing on real estate, hydroelectricity and financial services.

[Kojacks88]

thanks Life Definitely wierd is right.  CFP has a great Q1 earnings yet was down yesterday.  Picked up some more WFG @ 94.50$ .  There earnings is sure to be a knockout.  BAM needs to sell its stake and move on.  Then WFG needs to repurchase more shares.

[retiredcf]

I'd like to thank BAM for bringing down our SP. Just listened to a Raymond James analyst on BNN. He stated that with the price of lumber as it is, WFG is making $5/share per month. Just added a few more and will post the link when it becomes available. GLTA

[lifeisgood1010]

Many thanks Retiredcf for posting the link when available.My TV was not on, I was on the Canfor CC. I hope that WFG and IFP are as prudent and patient with their cash management as is Canfor. Over the past years we got use of them wasting shareholders wealth. Maybe this time is different. While there are not many USA comparable,the WY,BCC,LPX...all have very different caracteristics

[Frost19]

Here you go Life.  https://www.bnnbloomberg.ca/video/i-see-lumber-futures-testing-us-1-500-today-raymond-james-daryl-swetlishoff~2192432 It's crazy how much WFG, Canfor, Interfor are swimming in cash right now. All 3 are so undervalued and need to raise their share prices soon or they will be prime take out targets. 

[lifeisgood1010]

Thanks to both of you for the link

[Frost19]

Yeah it doesn't make much sense that lumber prices are going up but share price is going down. May lumber futures are about to close at $1500 and July futures are already at $1375. On the plus side that means WFG is buying back shares at a P/E of ~5 once Q1 results are in and we know Q2 lumber pricing is 50% better than Q1. WY reported today.... 30b company and had 2.5B of sales and 1.1B

[Cobalt]

50% free cash flow? can buy back 1/2 the shares in 1 year