Russell Investments Group Ltd. Reduces Stock Position in West Fraser Timber Co. Ltd. (NYSE:WFG)

Russell Investments Group Ltd. reduced its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG – Get Rating) by 6.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,673 shares of the company’s stock after selling 4,345 shares during the quarter. Russell Investments Group Ltd. owned about 0.08% of West Fraser Timber worth $4,883,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Forsta AP Fonden lifted its stake in West Fraser Timber by 12.5% in the 4th quarter. Forsta AP Fonden now owns 3,600 shares of the company’s stock worth $260,000 after purchasing an additional 400 shares in the last quarter. Toronto Dominion Bank lifted its stake in West Fraser Timber by 60.6% in the 3rd quarter. Toronto Dominion Bank now owns 25,916 shares of the company’s stock worth $1,874,000 after purchasing an additional 9,783 shares in the last quarter. K.J. Harrison & Partners Inc purchased a new stake in West Fraser Timber in the 4th quarter worth approximately $1,564,320,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in West Fraser Timber by 17.7% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 194,463 shares of the company’s stock worth $14,052,000 after purchasing an additional 29,174 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in West Fraser Timber by 48.6% in the 3rd quarter. Renaissance Technologies LLC now owns 223,100 shares of the company’s stock worth $16,157,000 after purchasing an additional 73,000 shares in the last quarter. 45.74% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Price Performance

WFG stock opened at $75.37 on Wednesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.09 and a current ratio of 3.66. West Fraser Timber Co. Ltd. has a 52 week low of $67.45 and a 52 week high of $102.96. The firm’s fifty day moving average is $73.21 and its 200 day moving average is $76.30. The firm has a market cap of $6.13 billion, a P/E ratio of 8.93 and a beta of 0.97.

West Fraser Timber (NYSE:WFG – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported ($0.52) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($1.13). The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.94 billion. West Fraser Timber had a return on equity of 10.92% and a net margin of 10.25%. West Fraser Timber’s revenue was down 47.7% on a year-over-year basis. During the same period last year, the business earned $10.25 EPS. Research analysts predict that West Fraser Timber Co. Ltd. will post 5.26 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on WFG. Credit Suisse Group increased their price target on shares of West Fraser Timber from $95.00 to $97.00 and gave the stock an “outperform” rating in a report on Monday, February 13th. TD Securities increased their price target on shares of West Fraser Timber from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, February 16th.

West Fraser Timber Profile

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West Fraser Timber Co Ltd. engages in the production of lumber and engineered wood products. It operates through the following business segments: Lumber, North America Engineered Wood Products (NA EWP), Pulp and Paper, Europe Engineered Wood Products (Europe EWP), and Corporate and Other. The Lumber segment refers to the manufacturing, selling, marketing, and distributing lumber.