Zurcher Kantonalbank Zurich Cantonalbank Acquires 12,441 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 48.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,055 shares of the company's stock after buying an additional 12,441 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in West Fraser Timber were worth $3,272,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in West Fraser Timber by 1.5% during the third quarter. Vanguard Group Inc. now owns 2,785,571 shares of the company's stock worth $202,065,000 after purchasing an additional 39,929 shares during the period. Royal Bank of Canada boosted its position in West Fraser Timber by 9.0% during the third quarter. Royal Bank of Canada now owns 2,319,488 shares of the company's stock worth $168,256,000 after purchasing an additional 191,613 shares during the period. Letko Brosseau & Associates Inc. boosted its position in West Fraser Timber by 0.5% during the third quarter. Letko Brosseau & Associates Inc. now owns 1,125,166 shares of the company's stock worth $82,066,000 after purchasing an additional 5,632 shares during the period. Bridgewater Advisors Inc. bought a new stake in shares of West Fraser Timber in the third quarter valued at about $79,179,000. Finally, Vontobel Holding Ltd. boosted its position in shares of West Fraser Timber by 5.5% in the fourth quarter. Vontobel Holding Ltd. now owns 1,008,770 shares of the company's stock valued at $86,306,000 after acquiring an additional 53,002 shares during the period. 40.23% of the stock is currently owned by institutional investors and hedge funds.

West Fraser Timber Price Performance

WFG traded up $0.18 on Tuesday, hitting $78.60. 220,996 shares of the stock were exchanged, compared to its average volume of 142,395. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.26 and a quick ratio of 1.45. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -36.56 and a beta of 1.15. West Fraser Timber Co. Ltd. has a 12 month low of $64.11 and a 12 month high of $90.17. The business has a 50-day moving average of $81.46 and a two-hundred day moving average of $78.70.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its earnings results on Wednesday, February 14th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.05. The firm had revenue of $1.51 billion during the quarter. West Fraser Timber had a positive return on equity of 1.29% and a negative net margin of 2.59%. Sell-side analysts forecast that West Fraser Timber Co. Ltd. will post 4.1 EPS for the current fiscal year.

West Fraser Timber Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Friday, March 15th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date was Thursday, March 14th. West Fraser Timber's payout ratio is -27.91%.

Analysts Set New Price Targets

WFG has been the subject of a number of recent research reports. Raymond James boosted their target price on shares of West Fraser Timber from $100.00 to $105.00 and gave the company a "strong-buy" rating in a research report on Tuesday, February 6th. TD Securities boosted their target price on shares of West Fraser Timber from $115.00 to $118.00 and gave the company a "buy" rating in a research report on Tuesday, April 16th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $97.00 price objective on shares of West Fraser Timber in a research report on Thursday, March 28th. Finally, Scotiabank set a $100.00 price objective on shares of West Fraser Timber and gave the stock an "outperform" rating in a research report on Monday, January 22nd. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $106.25.

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.