Pictet Asset Management Holding SA cut its stake in Weyerhaeuser Company (NYSE:WY – Free Report) by 11.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,280,051 shares of the real estate investment trust’s stock after selling 570,173 shares during the period. Pictet Asset Management Holding SA owned about 0.59% of Weyerhaeuser worth $102,464,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Essential Partners LLC lifted its stake in Weyerhaeuser by 120,800.0% during the first quarter. Essential Partners LLC now owns 1,209 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 1,208 shares during the last quarter. Nvwm LLC raised its holdings in shares of Weyerhaeuser by 174.7% during the 2nd quarter. Nvwm LLC now owns 1,258 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 800 shares in the last quarter. Versant Capital Management Inc lifted its position in Weyerhaeuser by 77.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 617 shares during the last quarter. Addison Advisors LLC lifted its position in Weyerhaeuser by 83.4% in the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 757 shares during the last quarter. Finally, Bayban purchased a new stake in Weyerhaeuser in the fourth quarter worth approximately $41,000. Institutional investors own 82.99% of the company’s stock.
Analyst Upgrades and Downgrades
WY has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price target on shares of Weyerhaeuser in a research report on Friday, July 17th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Friday, July 10th. DA Davidson reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.
Weyerhaeuser Stock Performance
NYSE:WY opened at $24.55 on Friday. The firm has a market cap of $17.70 billion, a PE ratio of 37.78, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. The business has a 50 day moving average price of $24.35 and a 200-day moving average price of $24.53.
Weyerhaeuser (NYSE:WY – Get Free Report) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business earned $0.12 earnings per share. The business’s revenue was down 8.3% on a year-over-year basis. Equities research analysts predict that Weyerhaeuser Company will post 0.32 earnings per share for the current year.
Weyerhaeuser Announces Dividend
The company 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 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend is Friday, September 4th. Weyerhaeuser’s dividend payout ratio (DPR) is 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.
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