E Fund Management Co. Ltd. bought a new position in Weyerhaeuser (NYSE:WY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,314 shares of the real estate investment trust’s stock, valued at approximately $47,000.
A number of other institutional investors and hedge funds also recently modified their holdings of WY. FMR LLC lifted its holdings in Weyerhaeuser by 336.8% in the first quarter. FMR LLC now owns 2,072,642 shares of the real estate investment trust’s stock worth $54,594,000 after buying an additional 1,598,165 shares during the period. Victory Capital Management Inc. lifted its holdings in Weyerhaeuser by 56.6% in the fourth quarter. Victory Capital Management Inc. now owns 515,440 shares of the real estate investment trust’s stock worth $17,283,000 after buying an additional 186,386 shares during the period. First Trust Advisors LP lifted its holdings in shares of Weyerhaeuser by 95.8% during the fourth quarter. First Trust Advisors LP now owns 40,717 shares of the real estate investment trust’s stock valued at $1,365,000 after purchasing an additional 19,927 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Weyerhaeuser by 4.4% during the fourth quarter. California Public Employees Retirement System now owns 1,802,831 shares of the real estate investment trust’s stock valued at $60,449,000 after purchasing an additional 75,342 shares during the last quarter. Finally, Parsec Financial Management Inc. purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $226,000. Institutional investors and hedge funds own 81.43% of the company’s stock.
In other news, SVP Adrian M. Blocker sold 84,821 shares of the business’s stock in a transaction on Monday, May 10th. The shares were sold at an average price of $40.42, for a total transaction of $3,428,464.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keith O’rear sold 15,745 shares of the business’s stock in a transaction on Wednesday, May 5th. The shares were sold at an average price of $39.21, for a total transaction of $617,361.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 230,479 shares of company stock valued at $9,238,449. 0.27% of the stock is currently owned by insiders.
Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, April 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Weyerhaeuser had a return on equity of 17.31% and a net margin of 15.98%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the firm posted $0.18 EPS. The company’s revenue for the quarter was up 45.0% on a year-over-year basis. As a group, equities analysts predict that Weyerhaeuser will post 2.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 18th. Shareholders of record on Friday, June 4th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date is Thursday, June 3rd. Weyerhaeuser’s dividend payout ratio (DPR) is presently 52.71%.
Several research firms have recently issued reports on WY. BMO Capital Markets lifted their target price on shares of Weyerhaeuser from $40.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, May 3rd. Raymond James upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $37.00 to $50.00 in a report on Monday, May 3rd. Finally, Stephens reiterated an “equal weight” rating and set a $35.00 target price on shares of Weyerhaeuser in a report on Monday, May 10th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Weyerhaeuser has a consensus rating of “Buy” and an average target price of $34.33.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.
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