Turtle Creek Asset Management Inc. Sells 800 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Turtle Creek Asset Management Inc. trimmed its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,350 shares of the company’s stock after selling 800 shares during the period. Turtle Creek Asset Management Inc.’s holdings in West Fraser Timber were worth $1,588,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FIL Ltd increased its holdings in West Fraser Timber by 35.5% in the 4th 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 during the last quarter. Norges Bank purchased a new stake in West Fraser Timber in the 4th quarter worth about $81,605,000. Price T Rowe Associates Inc. MD increased 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 worth $187,126,000 after acquiring an additional 780,313 shares during the last quarter. Bank of America Corp DE increased its holdings in West Fraser Timber by 200.3% in the 4th quarter. Bank of America Corp DE now owns 315,019 shares of the company’s stock worth $27,265,000 after acquiring an additional 210,107 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in West Fraser Timber by 60.7% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 317,247 shares of the company’s stock worth $27,453,000 after acquiring an additional 119,841 shares during the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Stock Up 0.6%

WFG stock opened at $74.94 on Friday. The firm has a market capitalization of $5.78 billion, a PE ratio of -356.86 and a beta of 1.21. West Fraser Timber Co. Ltd. has a twelve month low of $69.48 and a twelve month high of $102.40. The stock has a 50-day simple moving average of $74.95 and a two-hundred day simple moving average of $83.26.

West Fraser Timber (NYSE:WFG) last posted its earnings results on Tuesday, April 22nd. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.15). The company 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, equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WFG shares. Scotiabank decreased their price objective 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. TD Securities decreased their price objective 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. Raymond James decreased their price objective 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. Finally, 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, West Fraser Timber presently has a consensus rating of “Buy” and a consensus price target of $100.40.

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.