Zurcher Kantonalbank Zurich Cantonalbank Sells 830 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in West Fraser Timber Co. Ltd. (NYSE:WFG) by 2.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,236 shares of the company’s stock after selling 830 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in West Fraser Timber were worth $3,225,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Smead Capital Management Inc. raised its stake in shares of West Fraser Timber by 5.1% in the third quarter. Smead Capital Management Inc. now owns 118,108 shares of the company’s stock valued at $11,507,000 after buying an additional 5,743 shares during the period. Alberta Investment Management Corp grew its position in shares of West Fraser Timber by 58.7% in the fourth quarter. Alberta Investment Management Corp now owns 293,903 shares of the company’s stock valued at $25,452,000 after purchasing an additional 108,670 shares in the last quarter. Vontobel Holding Ltd. grew its position in shares of West Fraser Timber by 6.3% in the fourth quarter. Vontobel Holding Ltd. now owns 607,438 shares of the company’s stock valued at $52,565,000 after purchasing an additional 35,855 shares in the last quarter. Tacita Capital Inc purchased a new position in shares of West Fraser Timber in the fourth quarter valued at $412,000. Finally, Janus Henderson Group PLC grew its position in shares of West Fraser Timber by 383.7% in the third quarter. Janus Henderson Group PLC now owns 74,814 shares of the company’s stock valued at $7,296,000 after purchasing an additional 59,347 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors.

West Fraser Timber Trading Up 0.2 %

WFG opened at $76.45 on Friday. The stock has a 50-day moving average price of $83.37 and a 200-day moving average price of $89.51. West Fraser Timber Co. Ltd. has a 12-month low of $73.91 and a 12-month high of $102.40. The stock has a market capitalization of $5.91 billion, a P/E ratio of -364.03 and a beta of 1.23.

West Fraser Timber (NYSE:WFG) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.55) by $0.63. West Fraser Timber had a positive return on equity of 0.88% and a negative net margin of 0.08%. On average, equities research analysts predict that West Fraser Timber Co. Ltd. will post 4.45 EPS for the current year.

West Fraser Timber Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Friday, March 14th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend is Friday, March 14th. West Fraser Timber’s dividend payout ratio (DPR) is presently -609.52%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Scotiabank reduced their price target on West Fraser Timber from $109.00 to $100.00 and set a “sector outperform” rating for the company in a research report on Tuesday, February 18th. Raymond James reduced their target price on West Fraser Timber from $115.00 to $105.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Finally, TD Securities reduced their target price on West Fraser Timber from $120.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $106.00.

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.