Cibc World Market Inc. increased its holdings in shares of Weyerhaeuser Company (NYSE:WY – Free Report) by 80.8% during the 4th quarter, HoldingsChannel reports. The firm owned 482,236 shares of the real estate investment trust’s stock after purchasing an additional 215,444 shares during the period. Cibc World Market Inc.’s holdings in Weyerhaeuser were worth $11,424,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Citigroup Inc. grew its position in shares of Weyerhaeuser by 68.5% in the 3rd quarter. Citigroup Inc. now owns 1,647,285 shares of the real estate investment trust’s stock valued at $40,836,000 after purchasing an additional 669,451 shares during the period. Nordea Investment Management AB grew its position in shares of Weyerhaeuser by 2.1% in the 4th 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 purchasing an additional 47,709 shares during the period. Cambria Investment Management L.P. acquired a new position in shares of Weyerhaeuser in the 3rd quarter valued at approximately $1,265,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Weyerhaeuser in the 3rd quarter valued at approximately $1,154,000. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of Weyerhaeuser by 442.9% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 279,600 shares of the real estate investment trust’s stock valued at $6,931,000 after purchasing an additional 228,100 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
WY has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce set a $28.00 price objective on Weyerhaeuser in a research report on Thursday, April 23rd. Weiss Ratings lowered Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, May 26th. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. decreased their price objective on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Finally, Citigroup decreased their price objective on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.88.
Weyerhaeuser Trading Down 0.8%
NYSE WY opened at $24.51 on Friday. The stock has a market capitalization of $17.67 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 1.39 and a beta of 0.89. The stock’s 50 day moving average price is $24.18 and its two-hundred day moving average price is $24.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.86.
Weyerhaeuser (NYSE:WY – Get Free Report) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The business’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. As a group, analysts anticipate that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.
Weyerhaeuser Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be paid a $0.21 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.84 annualized dividend and a yield of 3.4%. Weyerhaeuser’s payout ratio is presently 155.56%.
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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