Mirae Asset Global Investments Co. Ltd. Increases Position in Weyerhaeuser Company $WY

Mirae Asset Global Investments Co. Ltd. grew its stake in Weyerhaeuser Company (NYSE:WY) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 124,887 shares of the real estate investment trust’s stock after acquiring an additional 20,897 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Weyerhaeuser were worth $2,959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Allianz Asset Management GmbH increased its holdings in shares of Weyerhaeuser by 27.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,881,226 shares of the real estate investment trust’s stock valued at $46,636,000 after acquiring an additional 405,575 shares during the period. Citigroup Inc. increased its holdings in shares of Weyerhaeuser by 68.5% in the 3rd quarter. Citigroup Inc. now owns 1,647,285 shares of the real estate investment trust’s stock valued at $40,836,000 after acquiring an additional 669,451 shares during the period. Nordea Investment Management AB increased its holdings in shares of Weyerhaeuser by 2.0% in the 3rd quarter. Nordea Investment Management AB now owns 2,322,728 shares of the real estate investment trust’s stock valued at $57,278,000 after acquiring an additional 46,207 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Weyerhaeuser by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 3,675,994 shares of the real estate investment trust’s stock valued at $91,128,000 after acquiring an additional 97,769 shares during the period. Finally, Cambria Investment Management L.P. purchased a new position in shares of Weyerhaeuser in the 3rd quarter valued at $1,265,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Down 0.4%

Weyerhaeuser stock opened at $24.79 on Thursday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.29. The business’s 50-day simple moving average is $24.54 and its two-hundred day simple moving average is $24.18. The company has a market cap of $17.87 billion, a PE ratio of 56.33, a PEG ratio of 2.72 and a beta of 0.98. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.86.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.58 billion. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. Equities analysts anticipate that Weyerhaeuser Company will post 0.26 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.4%. The ex-dividend date was Tuesday, March 10th. Weyerhaeuser’s payout ratio is presently 190.91%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on WY. Citigroup boosted their target price on Weyerhaeuser from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Wall Street Zen downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Truist Financial dropped their target price on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, April 15th. DA Davidson restated a “buy” rating and set a $31.00 target price on shares of Weyerhaeuser in a research note on Tuesday, March 31st. Finally, Weiss Ratings upgraded Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.75.

Insider Activity

In other news, Director Richard Beckwitt purchased 20,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were acquired at an average price of $25.70 per share, for a total transaction of $514,000.00. Following the purchase, the director owned 24,066 shares in the company, valued at $618,496.20. This trade represents a 491.88% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Calvin O’rourke purchased 4,000 shares of the company’s stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $25.35 per share, for a total transaction of $101,400.00. Following the purchase, the director owned 28,661 shares in the company, valued at approximately $726,556.35. The trade was a 16.22% increase in their position. The SEC filing for this purchase provides additional information. 0.31% of the stock is currently owned by insiders.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.