Turtle Creek Asset Management Inc. Cuts Stock Holdings in West Fraser Timber Co. Ltd. (NYSE:WFG)

Turtle Creek Asset Management Inc. decreased its holdings in shares of West Fraser Timber Co. Ltd. (NYSE:WFG) by 4.2% in the 4th quarter, Holdings Channel reports. 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 and other institutional investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of West Fraser Timber during the fourth quarter worth about $35,000. Kestra Investment Management LLC purchased a new position in shares of West Fraser Timber during the fourth quarter worth about $39,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in West Fraser Timber in the fourth quarter worth approximately $52,000. Signaturefd LLC boosted its stake in West Fraser Timber by 22.5% in the fourth quarter. Signaturefd LLC now owns 1,078 shares of the company’s stock worth $93,000 after buying an additional 198 shares in the last quarter. Finally, Natixis boosted its stake in West Fraser Timber by 61.8% in the fourth quarter. Natixis now owns 1,605 shares of the company’s stock worth $139,000 after buying an additional 613 shares in the last quarter. Hedge funds and other institutional investors own 40.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on WFG shares. Royal Bank of Canada cut their target price 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. TD Securities cut 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. Scotiabank cut their target price on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research note on Tuesday, February 18th. Finally, Raymond James cut their target price on West Fraser Timber from $105.00 to $90.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $100.40.

West Fraser Timber Stock Performance

NYSE:WFG opened at $74.94 on Friday. The firm has a market cap of $5.78 billion, a PE ratio of -356.86 and a beta of 1.21. West Fraser Timber Co. Ltd. has a fifty-two week low of $69.48 and a fifty-two week high of $102.40. The business has a 50 day moving average price of $74.95 and a 200-day moving average price of $83.26.

West Fraser Timber (NYSE:WFG) last released its quarterly earnings data 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%. Research analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current 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.