Shares of Weyerhaeuser Company (NYSE:WY – Get Free Report) rose 4.7% on Friday . The stock traded as high as $23.53 and last traded at $23.5470. 752,043 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 6,000,039 shares. The stock had previously closed at $22.50.
Analysts Set New Price Targets
WY has been the subject of a number of analyst reports. Weiss Ratings lowered Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a report on Thursday, April 23rd. Truist Financial dropped their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Citigroup decreased their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Weyerhaeuser currently has an average rating of “Moderate Buy” and an average price target of $29.11.
Read Our Latest Analysis on Weyerhaeuser
Weyerhaeuser Stock Performance
Weyerhaeuser (NYSE:WY – Get Free Report) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The business’s revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.11 EPS. As a group, equities analysts forecast that Weyerhaeuser Company will post 0.32 EPS for the current year.
Weyerhaeuser Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser’s dividend payout ratio is presently 155.56%.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of WY. Nordea Investment Management AB raised its stake in Weyerhaeuser by 2.1% during the fourth quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust’s stock valued at $56,310,000 after buying an additional 47,709 shares during the last quarter. Cambria Investment Management L.P. purchased a new stake in shares of Weyerhaeuser in the third quarter worth $1,265,000. Legal & General Group Plc increased its holdings in shares of Weyerhaeuser by 4.7% during the third quarter. Legal & General Group Plc now owns 11,382,659 shares of the real estate investment trust’s stock valued at $282,176,000 after acquiring an additional 511,657 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Weyerhaeuser in the 3rd quarter worth about $7,172,000. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Weyerhaeuser in the 4th quarter worth about $7,870,000. 82.99% of the stock is currently owned by institutional investors.
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.
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