Barclays PLC Cuts Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Barclays PLC trimmed its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 79.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,428 shares of the company’s stock after selling 5,691 shares during the quarter. Barclays PLC’s holdings in West Fraser Timber were worth $124,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Scotia Capital Inc. increased its position in West Fraser Timber by 118.4% during the 4th quarter. Scotia Capital Inc. now owns 105,796 shares of the company’s stock worth $9,157,000 after purchasing an additional 57,344 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of West Fraser Timber during the 4th quarter valued at about $487,000. Bank of Nova Scotia boosted its stake in shares of West Fraser Timber by 1.5% in the fourth quarter. Bank of Nova Scotia now owns 82,404 shares of the company’s stock valued at $7,139,000 after purchasing an additional 1,209 shares during the period. FIL Ltd lifted its stake in shares of West Fraser Timber by 35.5% in the fourth quarter. FIL Ltd now owns 5,041,873 shares of the company’s stock worth $436,861,000 after acquiring an additional 1,319,843 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in West Fraser Timber by 8.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 24,589 shares of the company’s stock valued at $2,129,000 after acquiring an additional 1,969 shares in the last quarter. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

West Fraser Timber Trading Down 3.6%

Shares of NYSE:WFG opened at $73.74 on Thursday. West Fraser Timber Co. Ltd. has a 1 year low of $69.48 and a 1 year high of $102.40. The firm has a fifty day moving average price of $75.04 and a 200 day moving average price of $83.62. The stock has a market capitalization of $5.69 billion, a PE ratio of -351.14 and a beta of 1.21.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. The firm had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.53 billion. On average, sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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