Zurcher Kantonalbank Zurich Cantonalbank Purchases 8,372 Shares of West Fraser Timber Co. Ltd. (NYSE:WFG)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in West Fraser Timber Co. Ltd. (NYSE:WFG - Free Report) by 28.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,066 shares of the company's stock after purchasing an additional 8,372 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in West Fraser Timber were worth $3,713,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in WFG. FMR LLC boosted its stake in shares of West Fraser Timber by 22.5% during the 3rd quarter. FMR LLC now owns 1,447,823 shares of the company's stock worth $141,047,000 after acquiring an additional 266,298 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in West Fraser Timber by 43.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 143,712 shares of the company's stock worth $14,008,000 after buying an additional 43,549 shares during the period. Cerity Partners LLC lifted its stake in West Fraser Timber by 128.0% during the third quarter. Cerity Partners LLC now owns 247,400 shares of the company's stock valued at $24,087,000 after buying an additional 138,871 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of West Fraser Timber by 1.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 305,316 shares of the company's stock worth $29,777,000 after acquiring an additional 4,945 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of West Fraser Timber by 3.5% during the third quarter. Moors & Cabot Inc. now owns 4,420 shares of the company's stock valued at $430,000 after acquiring an additional 150 shares during the period. 40.23% of the stock is owned by institutional investors.

West Fraser Timber Stock Up 0.8 %

Shares of WFG traded up $0.77 during trading hours on Tuesday, hitting $95.01. The stock had a trading volume of 72,206 shares, compared to its average volume of 157,733. The company's fifty day moving average is $95.71 and its two-hundred day moving average is $87.37. West Fraser Timber Co. Ltd. has a 52 week low of $72.56 and a 52 week high of $102.40.

West Fraser Timber (NYSE:WFG - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the company earned $1.81 EPS. Equities research analysts anticipate that West Fraser Timber Co. Ltd. will post 0.95 EPS for the current fiscal year.

West Fraser Timber Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Thursday, September 26th were given a dividend of $0.237 per share. This represents a $0.95 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Thursday, September 26th. West Fraser Timber's dividend payout ratio is -74.22%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WFG shares. BMO Capital Markets lifted their target price on West Fraser Timber from $105.00 to $115.00 and gave the company an "outperform" rating in a research note on Tuesday, October 22nd. Scotiabank raised their target price on West Fraser Timber from $100.00 to $120.00 and gave the company a "sector outperform" rating in a report on Friday, October 25th. Four 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 data from MarketBeat, West Fraser Timber has an average rating of "Buy" and an average price target of $111.60.

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.