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

Silvercrest Asset Management Group LLC reduced its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 64.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 quarter.

A number of other hedge funds also recently made changes to their positions in the company. D.B. Root & Company LLC increased its stake in West Fraser Timber by 24.0% in the 4th quarter. D.B. Root & Company LLC now owns 2,840 shares of the company's stock worth $246,000 after acquiring an additional 549 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in West Fraser Timber in the fourth quarter worth $1,040,000. Manning & Napier Advisors LLC increased its position in West Fraser Timber by 14.7% in the fourth quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company's stock worth $73,830,000 after purchasing an additional 109,447 shares during the last quarter. Sycomore Asset Management purchased a new stake in West Fraser Timber during the fourth quarter valued at $596,000. Finally, Lightrock Netherlands B.V. bought a new position in West Fraser Timber during the fourth quarter valued at $3,197,000. 40.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WFG has been the topic of a number of research reports. Royal Bank of Canada reduced 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. TD Securities reduced their price objective on West Fraser Timber from $99.00 to $98.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Raymond James decreased their price objective on West Fraser Timber from $105.00 to $90.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Scotiabank dropped 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $100.40.

West Fraser Timber Trading Down 0.1%

Shares of WFG stock traded down $0.10 during trading hours on Monday, reaching $73.27. 106,199 shares of the stock were exchanged, compared to its average volume of 176,815. The firm has a market capitalization of $5.65 billion, a price-to-earnings ratio of -348.90 and a beta of 1.21. West Fraser Timber Co. Ltd. has a 12-month low of $69.48 and a 12-month high of $102.40. The company's 50-day moving average price is $74.68 and its 200-day moving average price is $82.56.

West Fraser Timber (NYSE:WFG - Get Free Report) last announced its earnings results 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 analysts' expectations of $1.53 billion. West Fraser Timber had a negative net margin of 0.08% and a positive return on equity of 0.88%. On average, sell-side analysts expect that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Company 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.