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

Silvercrest Asset Management Group LLC trimmed its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 64.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,999 shares of the company’s stock after selling 23,185 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in West Fraser Timber were worth $1,125,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Royal Bank of Canada increased its holdings in shares of West Fraser Timber by 0.3% in the 4th quarter. Royal Bank of Canada now owns 2,980,619 shares of the company’s stock valued at $257,974,000 after acquiring an additional 8,760 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of West Fraser Timber in the 4th quarter valued at $52,000. Point72 Asset Management L.P. increased its holdings in shares of West Fraser Timber by 622.3% in the 4th quarter. Point72 Asset Management L.P. now owns 21,791 shares of the company’s stock valued at $1,886,000 after acquiring an additional 18,774 shares during the period. Quantinno Capital Management LP increased its holdings in shares of West Fraser Timber by 59.8% in the 4th quarter. Quantinno Capital Management LP now owns 4,228 shares of the company’s stock valued at $366,000 after acquiring an additional 1,582 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of West Fraser Timber by 31.9% in the 4th quarter. Millennium Management LLC now owns 120,391 shares of the company’s stock valued at $10,422,000 after acquiring an additional 29,092 shares during the period. 40.23% of the stock is owned by institutional investors and hedge funds.

West Fraser Timber Stock Performance

Shares of WFG opened at $74.44 on Wednesday. The stock has a market capitalization of $5.74 billion, a P/E ratio of -354.48 and a beta of 1.21. The company’s fifty day moving average is $74.92 and its two-hundred day moving average is $83.04. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG) last announced 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 firm had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.53 billion. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. Sell-side analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

Analyst Ratings Changes

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

About West Fraser Timber

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.