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

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in West Fraser Timber Co. Ltd. (NYSE:WFG) by 48.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 38,055 shares of the company’s stock after acquiring an additional 12,441 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in West Fraser Timber were worth $3,272,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC purchased a new position in shares of West Fraser Timber during the third quarter valued at $112,000. Bank of Nova Scotia Trust Co. grew its holdings in shares of West Fraser Timber by 16.3% during the third quarter. Bank of Nova Scotia Trust Co. now owns 3,248 shares of the company’s stock valued at $236,000 after buying an additional 455 shares in the last quarter. EJF Capital LLC grew its holdings in shares of West Fraser Timber by 35.9% during the third quarter. EJF Capital LLC now owns 6,793 shares of the company’s stock valued at $493,000 after buying an additional 1,793 shares in the last quarter. Accurate Wealth Management LLC grew its holdings in shares of West Fraser Timber by 45.9% during the third quarter. Accurate Wealth Management LLC now owns 7,162 shares of the company’s stock valued at $498,000 after buying an additional 2,253 shares in the last quarter. Finally, Raymond James & Associates grew its holdings in shares of West Fraser Timber by 5.7% during the third quarter. Raymond James & Associates now owns 7,152 shares of the company’s stock valued at $519,000 after buying an additional 385 shares in the last quarter. 40.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WFG. Scotiabank set a $100.00 price target on West Fraser Timber and gave the company an “outperform” rating in a report on Monday, January 22nd. Raymond James lifted their price target on West Fraser Timber from $100.00 to $105.00 and gave the company a “strong-buy” rating in a report on Tuesday, February 6th. TD Securities boosted their target price on West Fraser Timber from $115.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $97.00 target price on shares of West Fraser Timber in a research note on Thursday, March 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $106.25.

West Fraser Timber Stock Performance

Shares of NYSE WFG opened at $78.42 on Tuesday. The business’s 50-day moving average price is $81.42 and its two-hundred day moving average price is $78.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.45 and a current ratio of 2.26. West Fraser Timber Co. Ltd. has a one year low of $64.11 and a one year high of $90.17.

West Fraser Timber (NYSE:WFG) last announced its quarterly earnings results on Wednesday, February 14th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.05. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. The company had revenue of $1.51 billion during the quarter. Sell-side analysts anticipate that West Fraser Timber Co. Ltd. will post 4.1 earnings per share for the current year.

West Fraser Timber Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.53%. West Fraser Timber’s dividend payout ratio is currently -27.91%.

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.