Madison Asset Management LLC bought a new position in Weyerhaeuser Company (NYSE:WY – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 207,000 shares of the real estate investment trust’s stock, valued at approximately $4,956,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its stake in Weyerhaeuser by 18.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock valued at $65,878,000 after purchasing an additional 346,571 shares during the period. Empowered Funds LLC raised its position in shares of Weyerhaeuser by 3.4% during the 1st quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock valued at $1,348,000 after buying an additional 1,498 shares in the last quarter. Intech Investment Management LLC raised its position in Weyerhaeuser by 5.9% during the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock valued at $1,647,000 after purchasing an additional 3,124 shares during the period. Gamco Investors INC. ET AL bought a new stake in Weyerhaeuser in the second quarter worth $275,000. Finally, Bank of Nova Scotia raised its stake in shares of Weyerhaeuser by 10.2% in the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock valued at $2,354,000 after acquiring an additional 8,500 shares during the period. 82.99% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on WY. Canadian Imperial Bank of Commerce set a $28.00 price objective on shares of Weyerhaeuser in a research report on Thursday, April 23rd. JPMorgan Chase & Co. boosted their target price on Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a research report on Monday, June 29th. Citigroup cut their target price on Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings upgraded Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Finally, DA Davidson reissued a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a research note on Tuesday, June 30th. One 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.00.
Weyerhaeuser Price Performance
NYSE WY opened at $24.66 on Friday. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $27.75. The firm’s 50 day moving average price is $24.34 and its 200-day moving average price is $24.46. The company has a market cap of $17.77 billion, a PE ratio of 37.94, a P/E/G ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82.
Weyerhaeuser (NYSE:WY – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 EPS. Sell-side analysts forecast that Weyerhaeuser Company will post 0.32 EPS for the current fiscal year.
Weyerhaeuser Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 129.23%.
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.
Featured Stories
- Five stocks we like better than Weyerhaeuser
- 3 Energy Stocks Raising Dividends as the Sector Surges
- 5 Reasons the S&P 500 Could Keep Rallying Through Year-End
- Walmart’s Post-Earnings Drop Could Be a Buying Opportunity
- The Trade Desk’s Earnings Miss Raises a Bigger Question About Its AI Future
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.
