Other institutional investors and hedge funds have also made changes to their positions in the company. M&T Bank Corp increased its holdings in shares of Weyerhaeuser by 13.4% in the 2nd quarter. M&T Bank Corp now owns 201,869 shares of the real estate investment trust’s stock valued at $6,124,000 after acquiring an additional 23,908 shares during the period. First Republic Investment Management Inc. grew its stake in Weyerhaeuser by 9.8% during the 3rd quarter. First Republic Investment Management Inc. now owns 347,464 shares of the real estate investment trust’s stock worth $9,924,000 after buying an additional 30,881 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Weyerhaeuser by 3.1% during the 3rd quarter. Treasurer of the State of North Carolina now owns 406,727 shares of the real estate investment trust’s stock worth $11,616,000 after buying an additional 12,332 shares during the last quarter. Virtu Financial LLC grew its stake in Weyerhaeuser by 21.5% during the 2nd quarter. Virtu Financial LLC now owns 18,393 shares of the real estate investment trust’s stock worth $609,000 after buying an additional 3,260 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Weyerhaeuser during the 2nd quarter worth $57,920,000. 80.86% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
WY has been the topic of several research analyst reports. Raymond James boosted their target price on Weyerhaeuser from $38.00 to $42.00 and gave the stock a “strong-buy” rating in a research note on Monday. Citigroup boosted their target price on Weyerhaeuser from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. BMO Capital Markets dropped their target price on Weyerhaeuser from $42.00 to $36.00 and set a “market perform” rating on the stock in a research note on Monday, February 6th. Finally, DA Davidson dropped their target price on Weyerhaeuser from $35.00 to $33.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 19th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.43.
Weyerhaeuser Stock Performance
Shares of WY opened at $32.85 on Thursday. The stock has a 50-day moving average of $32.32 and a two-hundred day moving average of $32.24. Weyerhaeuser has a one year low of $27.36 and a one year high of $42.86. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.26 and a current ratio of 1.58. The stock has a market cap of $24.17 billion, a P/E ratio of 12.98 and a beta of 1.47.
Weyerhaeuser (NYSE:WY – Get Rating) last issued its quarterly earnings results on Friday, January 27th. The real estate investment trust reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. Weyerhaeuser had a return on equity of 21.08% and a net margin of 18.46%. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm posted $0.49 EPS. The firm’s revenue was down 17.4% compared to the same quarter last year. As a group, research analysts predict that Weyerhaeuser will post 1.09 EPS for the current year.
Weyerhaeuser Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 17th. Stockholders of record on Friday, March 3rd will be issued a $0.19 dividend. The ex-dividend date is Thursday, March 2nd. This represents a $0.76 annualized dividend and a dividend yield of 2.31%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 28.46%.
In other news, CEO Devin W. Stockfish sold 1,800 shares of the business’s stock in a transaction dated Thursday, February 2nd. The stock was sold at an average price of $36.00, for a total value of $64,800.00. Following the completion of the transaction, the chief executive officer now owns 567,381 shares of the company’s stock, valued at approximately $20,425,716. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.22% of the company’s stock.
Weyerhaeuser Company Profile
Weyerhaeuser Co engages in the manufacture, distribution and sale of forest products. It operates through the following business segments: Timberlands, Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products. The Timberlands segment manages private commercial forestland worldwide, engages in growing and harvesting trees for lumber, building, pulp, paper and other wood products.
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