Becker Capital Management Inc. boosted its position in shares of Weyerhaeuser Co (NYSE:WY) by 17.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,830,632 shares of the real estate investment trust’s stock after acquiring an additional 272,358 shares during the period. Weyerhaeuser accounts for about 1.8% of Becker Capital Management Inc.’s investment portfolio, making the stock its 11th largest position. Becker Capital Management Inc. owned about 0.25% of Weyerhaeuser worth $48,219,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its holdings in Weyerhaeuser by 5.7% in the 3rd quarter. Vanguard Group Inc now owns 96,333,445 shares of the real estate investment trust’s stock valued at $3,108,681,000 after buying an additional 5,195,461 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Weyerhaeuser by 32.2% during the 4th quarter. American Century Companies Inc. now owns 16,904,397 shares of the real estate investment trust’s stock worth $369,530,000 after purchasing an additional 4,119,961 shares during the period. Geode Capital Management LLC grew its holdings in shares of Weyerhaeuser by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 11,271,941 shares of the real estate investment trust’s stock worth $246,032,000 after purchasing an additional 711,947 shares during the period. Norges Bank purchased a new position in shares of Weyerhaeuser during the 4th quarter worth $173,259,000. Finally, Morgan Stanley grew its holdings in shares of Weyerhaeuser by 4.2% during the 3rd quarter. Morgan Stanley now owns 7,870,171 shares of the real estate investment trust’s stock worth $253,969,000 after purchasing an additional 314,752 shares during the period. Institutional investors own 76.34% of the company’s stock.
In other Weyerhaeuser news, insider Devin W. Stockfish purchased 5,195 shares of Weyerhaeuser stock in a transaction that occurred on Thursday, June 6th. The stock was purchased at an average price of $23.03 per share, with a total value of $119,640.85. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.43% of the stock is owned by corporate insiders.
WY has been the topic of a number of analyst reports. Stephens raised Weyerhaeuser from an “equal weight” rating to an “overweight” rating and set a $32.00 price target on the stock in a research report on Friday, April 5th. Seaport Global Securities started coverage on Weyerhaeuser in a research report on Tuesday, April 2nd. They set a “buy” rating on the stock. ValuEngine raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, BMO Capital Markets raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Monday, March 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Weyerhaeuser has an average rating of “Buy” and a consensus price target of $33.10.
WY stock traded up $0.43 during trading on Friday, reaching $25.71. 6,294,400 shares of the stock traded hands, compared to its average volume of 4,978,227. Weyerhaeuser Co has a 52-week low of $20.52 and a 52-week high of $37.44. The company has a current ratio of 1.48, a quick ratio of 1.10 and a debt-to-equity ratio of 0.70. The company has a market cap of $18.83 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 8.03 and a beta of 1.67.
Weyerhaeuser (NYSE:WY) last issued its earnings results on Friday, April 26th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.11. Weyerhaeuser had a return on equity of 7.69% and a net margin of 2.62%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was down 11.9% compared to the same quarter last year. Equities analysts forecast that Weyerhaeuser Co will post 0.62 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be given a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 5.29%. The ex-dividend date is Thursday, June 6th. Weyerhaeuser’s payout ratio is 115.25%.
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Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.2 million acres of timberlands in the U.S., and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.
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