Norges Bank bought a new stake in shares of Weyerhaeuser Company (NYSE:WY – Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 23,196,766 shares of the real estate investment trust’s stock, valued at approximately $549,531,000. Norges Bank owned 3.22% of Weyerhaeuser as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. NovaPoint Capital LLC increased its position in Weyerhaeuser by 2.7% during the 4th quarter. NovaPoint Capital LLC now owns 14,857 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 385 shares during the period. BOKF NA increased its position in Weyerhaeuser by 4.6% during the 3rd quarter. BOKF NA now owns 10,503 shares of the real estate investment trust’s stock valued at $260,000 after purchasing an additional 463 shares during the period. EverSource Wealth Advisors LLC increased its position in Weyerhaeuser by 23.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,495 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 472 shares during the period. CoreCap Advisors LLC grew its holdings in Weyerhaeuser by 27.6% during the 4th quarter. CoreCap Advisors LLC now owns 2,249 shares of the real estate investment trust’s stock worth $53,000 after acquiring an additional 487 shares during the period. Finally, Kiley Juergens Wealth Management LLC grew its holdings in Weyerhaeuser by 2.4% during the 4th quarter. Kiley Juergens Wealth Management LLC now owns 20,624 shares of the real estate investment trust’s stock worth $489,000 after acquiring an additional 487 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on WY shares. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. JPMorgan Chase & Co. decreased their price target on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Weiss Ratings downgraded Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a report on Thursday, April 23rd. Finally, Truist Financial decreased their price target on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Weyerhaeuser currently has an average rating of “Moderate Buy” and a consensus target price of $28.88.
Weyerhaeuser Stock Performance
NYSE WY opened at $24.53 on Monday. The company has a fifty day simple moving average of $24.06 and a 200 day simple moving average of $24.23. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.86. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market cap of $17.69 billion, a P/E ratio of 45.43, a PEG ratio of 1.39 and a beta of 0.89.
Weyerhaeuser (NYSE:WY – Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm posted $0.11 EPS. Weyerhaeuser’s revenue was down 2.0% compared to the same quarter last year. Sell-side analysts predict that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.
Weyerhaeuser Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. Weyerhaeuser’s payout ratio is 155.56%.
Weyerhaeuser Profile
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.
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