West Fraser Timber Co. Ltd. (NYSE:WFG) Stake Reduced by Jane Street Group LLC

Jane Street Group LLC reduced its stake in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 68.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,368 shares of the company’s stock after selling 18,054 shares during the quarter. Jane Street Group LLC’s holdings in West Fraser Timber were worth $724,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FIL Ltd grew 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 purchasing an additional 1,319,843 shares in the last quarter. Vanguard Group Inc. boosted its stake in West Fraser Timber by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company’s stock valued at $246,652,000 after buying an additional 12,874 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in West Fraser Timber by 56.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company’s stock valued at $187,126,000 after buying an additional 780,313 shares in the last quarter. Norges Bank bought a new position in West Fraser Timber during the fourth quarter valued at about $81,605,000. Finally, Manning & Napier Advisors LLC boosted its stake in West Fraser Timber by 14.7% during the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company’s stock valued at $73,830,000 after buying an additional 109,447 shares in the last quarter. Institutional investors own 40.23% of the company’s stock.

Analyst Upgrades and Downgrades

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

West Fraser Timber Trading Down 0.1%

Shares of West Fraser Timber stock opened at $73.27 on Monday. The stock has a 50-day moving average price of $74.68 and a 200 day moving average price of $82.56. The company has a market cap of $5.65 billion, a P/E ratio of -348.90 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.

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 business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.53 billion. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. On average, equities analysts forecast that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

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.