West Fraser Timber Co. Ltd. (NYSE:WFG) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in West Fraser Timber Co. Ltd. (NYSE:WFG) by 28.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,066 shares of the company’s stock after buying an additional 8,372 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in West Fraser Timber were worth $3,713,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Toronto Dominion Bank boosted its holdings in West Fraser Timber by 0.4% in the second quarter. Toronto Dominion Bank now owns 30,040 shares of the company’s stock valued at $2,309,000 after purchasing an additional 125 shares in the last quarter. Moors & Cabot Inc. lifted its holdings in shares of West Fraser Timber by 3.5% in the 3rd quarter. Moors & Cabot Inc. now owns 4,420 shares of the company’s stock valued at $430,000 after purchasing an additional 150 shares during the last quarter. Signaturefd LLC grew its stake in West Fraser Timber by 60.0% during the 2nd quarter. Signaturefd LLC now owns 496 shares of the company’s stock worth $38,000 after buying an additional 186 shares during the last quarter. Inspire Advisors LLC increased its position in West Fraser Timber by 4.3% during the second quarter. Inspire Advisors LLC now owns 4,592 shares of the company’s stock worth $353,000 after buying an additional 189 shares during the period. Finally, CIBC Asset Management Inc boosted its holdings in shares of West Fraser Timber by 0.4% in the third quarter. CIBC Asset Management Inc now owns 71,471 shares of the company’s stock valued at $6,966,000 after acquiring an additional 311 shares during the period. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on WFG shares. BMO Capital Markets increased their price objective on West Fraser Timber from $105.00 to $115.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Scotiabank boosted their target price on West Fraser Timber from $100.00 to $120.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 25th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $111.60.

West Fraser Timber Stock Performance

WFG stock opened at $94.33 on Tuesday. The stock’s 50 day moving average price is $95.71 and its 200 day moving average price is $87.28. The firm has a market cap of $7.57 billion, a P/E ratio of -73.70 and a beta of 1.19. West Fraser Timber Co. Ltd. has a 1 year low of $72.56 and a 1 year high of $102.40.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported ($1.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.87). West Fraser Timber had a negative net margin of 1.53% and a positive return on equity of 0.53%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period in the previous year, the business earned $1.81 EPS. On average, research analysts predict that West Fraser Timber Co. Ltd. will post 0.95 earnings per share for the current year.

West Fraser Timber Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Thursday, September 26th were given a dividend of $0.237 per share. The ex-dividend date was Thursday, September 26th. This represents a $0.95 dividend on an annualized basis and a yield of 1.00%. West Fraser Timber’s dividend payout ratio (DPR) is currently -74.22%.

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.