Silvercrest Asset Management Group LLC Reduces Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Silvercrest Asset Management Group LLC decreased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 64.1% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,999 shares of the company’s stock after selling 23,185 shares during the period. Silvercrest Asset Management Group LLC’s holdings in West Fraser Timber were worth $1,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. FIL Ltd boosted its position in West Fraser Timber by 35.5% during the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after purchasing an additional 1,319,843 shares in the last quarter. Royal Bank of Canada raised its stake in shares of West Fraser Timber by 0.3% during the 4th quarter. Royal Bank of Canada now owns 2,980,619 shares of the company’s stock worth $257,974,000 after buying an additional 8,760 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of West Fraser Timber by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock worth $246,652,000 after buying an additional 12,874 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in West Fraser Timber by 56.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after acquiring an additional 780,313 shares during the last quarter. Finally, Norges Bank acquired a new stake in West Fraser Timber in the 4th quarter valued at about $81,605,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $74.44 on Wednesday. The firm has a market cap of $5.74 billion, a P/E ratio of -354.48 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40. The firm’s 50 day moving average price is $74.92 and its 200 day moving average price is $83.04.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.15). The business had revenue of $1.46 billion for the quarter, compared to analyst estimates of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. As a group, equities analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WFG. Raymond James reduced their price target on shares of West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Scotiabank reduced their target price on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, February 18th. TD Securities dropped their price target on West Fraser Timber from $99.00 to $98.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Finally, Royal Bank of Canada reduced their price objective on West Fraser Timber from $117.00 to $99.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $100.40.

West Fraser Timber 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.