Wellington Management Group LLP grew its stake in shares of Weyerhaeuser Company (NYSE:WY – Free Report) by 14.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 43,574,118 shares of the real estate investment trust’s stock after acquiring an additional 5,437,685 shares during the period. Wellington Management Group LLP owned about 0.06% of Weyerhaeuser worth $1,043,164,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. First Eagle Investment Management LLC boosted its stake in Weyerhaeuser by 166.1% in the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after purchasing an additional 23,485,504 shares in the last quarter. Norges Bank purchased a new stake in Weyerhaeuser during the 4th quarter valued at about $549,531,000. Bank of New York Mellon Corp bought a new stake in Weyerhaeuser during the 2nd quarter valued at about $468,969,000. Manning & Napier Advisors LLC bought a new stake in Weyerhaeuser during the 1st quarter valued at about $101,969,000. Finally, Freestone Grove Partners LP raised its holdings in Weyerhaeuser by 124.5% in the third quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after buying an additional 3,713,932 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.
Weyerhaeuser Stock Performance
WY stock opened at $23.68 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The company has a market cap of $17.07 billion, a P/E ratio of 36.43, a price-to-earnings-growth ratio of 1.24 and a beta of 0.89. The stock’s fifty day moving average price is $24.29 and its 200-day moving average price is $24.38.
Weyerhaeuser Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. Weyerhaeuser’s dividend payout ratio is presently 129.23%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on WY. DA Davidson reiterated a “buy” rating and issued a $31.00 target price on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Weiss Ratings raised shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Truist Financial reaffirmed a “hold” rating and issued a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. Finally, Raymond James Financial upgraded Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.00.
Check Out Our Latest Report on WY
Weyerhaeuser Company 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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