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

Jane Street Group LLC decreased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 68.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in WFG. FIL Ltd grew its stake in West Fraser Timber by 35.5% in the 4th quarter. FIL Ltd now owns 5,041,873 shares of the company's stock valued at $436,861,000 after acquiring an additional 1,319,843 shares during the period. Vanguard Group Inc. lifted its holdings in West Fraser Timber by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 2,846,663 shares of the company's stock valued at $246,652,000 after purchasing an additional 12,874 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in West Fraser Timber by 56.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,162,049 shares of the company's stock valued at $187,126,000 after purchasing an additional 780,313 shares in the last quarter. Norges Bank purchased a new position in West Fraser Timber in the 4th quarter valued at $81,605,000. Finally, Manning & Napier Advisors LLC lifted its holdings in West Fraser Timber by 14.7% in the 4th quarter. Manning & Napier Advisors LLC now owns 853,038 shares of the company's stock valued at $73,830,000 after purchasing an additional 109,447 shares in the last quarter. Institutional investors and hedge funds own 40.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on WFG. Scotiabank reduced their price target on 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 reduced their price target on 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 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. Finally, Raymond James reduced 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 report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, West Fraser Timber currently has a consensus rating of "Buy" and an average price target of $100.40.

West Fraser Timber Stock Performance

WFG traded up $1.10 during trading on Thursday, hitting $73.81. The stock had a trading volume of 54,976 shares, compared to its average volume of 176,262. The firm has a market capitalization of $5.69 billion, a P/E ratio of -351.45 and a beta of 1.21. The company's 50-day moving average price is $74.47 and its 200 day moving average price is $82.32. West Fraser Timber Co. Ltd. has a twelve month low of $69.48 and a twelve month high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.15). West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. The business had revenue of $1.46 billion during the quarter, compared to analysts' expectations of $1.53 billion. As a group, equities analysts expect that West Fraser Timber Co. Ltd. will post 4.45 earnings per share for the current fiscal year.

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.