Pekin Hardy Strauss Inc. Acquires 23,815 Shares of Weyerhaeuser Company $WY

Pekin Hardy Strauss Inc. increased its holdings in shares of Weyerhaeuser Company (NYSE:WYFree Report) by 7.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 358,651 shares of the real estate investment trust’s stock after buying an additional 23,815 shares during the period. Weyerhaeuser accounts for about 0.8% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 22nd biggest holding. Pekin Hardy Strauss Inc.’s holdings in Weyerhaeuser were worth $8,586,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in Weyerhaeuser by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock worth $980,250,000 after acquiring an additional 1,731,315 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of 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 valued at $891,242,000 after purchasing an additional 23,485,504 shares during the period. State Street Corp lifted its stake in shares of Weyerhaeuser by 1.7% in the 4th quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock valued at $782,513,000 after purchasing an additional 562,781 shares during the period. Norges Bank bought a new position in shares of Weyerhaeuser in the 4th quarter worth $549,531,000. Finally, Geode Capital Management LLC boosted its position in shares of Weyerhaeuser by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock worth $479,155,000 after purchasing an additional 225,227 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Weyerhaeuser Trading Down 1.1%

Shares of NYSE WY opened at $24.55 on Friday. The company’s fifty day moving average is $24.35 and its 200-day moving average is $24.53. The stock has a market cap of $17.70 billion, a price-to-earnings ratio of 37.78, a P/E/G ratio of 1.33 and a beta of 0.89. Weyerhaeuser Company has a twelve month low of $21.16 and a twelve month high of $27.75. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

Weyerhaeuser (NYSE:WYGet Free Report) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm’s quarterly revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 EPS. Equities research analysts predict that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, September 4th. Weyerhaeuser’s dividend payout ratio is 129.23%.

Analyst Ratings Changes

A number of equities research analysts recently commented on WY shares. DA Davidson reaffirmed a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. 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. Raymond James Financial upgraded Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Friday, July 10th. Finally, Wall Street Zen raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Sunday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

Check Out Our Latest Research Report 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.

See Also

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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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