Pictet Asset Management Holding SA Increases Stock Position in Weyerhaeuser Company $WY

Pictet Asset Management Holding SA increased its holdings in Weyerhaeuser Company (NYSE:WY – Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,850,224 shares of the real estate investment trust’s stock after buying an additional 295,085 shares during the period. Pictet Asset Management Holding SA’s holdings in Weyerhaeuser were worth $118,491,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Wealth Effects LLC raised its holdings in Weyerhaeuser by 42.9% during the 1st quarter. Wealth Effects LLC now owns 25,000 shares of the real estate investment trust’s stock valued at $611,000 after acquiring an additional 7,500 shares during the period. Draper Asset Management LLC boosted its holdings in shares of Weyerhaeuser by 40.0% in the first quarter. Draper Asset Management LLC now owns 71,792 shares of the real estate investment trust’s stock worth $1,754,000 after acquiring an additional 20,514 shares during the period. Louisiana State Employees Retirement System bought a new position in shares of Weyerhaeuser in the first quarter worth $897,000. Fiduciary Alliance LLC grew its position in shares of Weyerhaeuser by 106.5% in the first quarter. Fiduciary Alliance LLC now owns 203,044 shares of the real estate investment trust’s stock valued at $4,916,000 after purchasing an additional 104,701 shares in the last quarter. Finally, OP Asset Management Ltd purchased a new position in shares of Weyerhaeuser in the first quarter valued at $1,865,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Get Weyerhaeuser alerts:

Weyerhaeuser Stock Up 0.1%

WY opened at $25.32 on Monday. The firm has a market capitalization of $18.26 billion, a P/E ratio of 46.89, a price-to-earnings-growth ratio of 1.44 and a beta of 0.89. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75. The company has a fifty day moving average price of $24.26 and a 200-day moving average price of $24.60. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80.

Weyerhaeuser (NYSE:WY – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. Equities research analysts expect that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 155.56%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial decreased their price objective on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, April 15th. Citigroup reduced their target price on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. lowered their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Weyerhaeuser presently has an average rating of “Moderate Buy” and a consensus target price of $28.88.

Get Our Latest Stock Analysis on WY

Weyerhaeuser Profile

(Free Report)

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.

Read More

• Five stocks we like better than Weyerhaeuser
• As Stablecoins Keep Growing, These 2 Stocks Benefit
• Apple Just Handed These 4 Memory Stocks Their Best News of the Year
• Costco’s Secret Growth Engine May Be Running Out of Gas
• Why Alphabet’s Pullback May Be an Opportunity in Disguise

Want to see what other hedge funds are holding WY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weyerhaeuser Company (NYSE:WY – Free Report).

Receive News & Ratings for Weyerhaeuser Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weyerhaeuser and related companies with MarketBeat.com's FREE daily email newsletter.