19,589,359 Shares in Weyerhaeuser Company $WY Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp bought a new stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,589,359 shares of the real estate investment trust's stock, valued at approximately $468,969,000. Bank of New York Mellon Corp owned about 2.72% of Weyerhaeuser at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Essential Partners LLC raised its position 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 valued at $30,000 after acquiring an additional 1,208 shares in the last quarter. Nvwm LLC grew its position in Weyerhaeuser by 174.7% in the second quarter. Nvwm LLC now owns 1,258 shares of the real estate investment trust's stock worth $30,000 after acquiring an additional 800 shares in the last quarter. Versant Capital Management Inc grew its position in Weyerhaeuser by 77.6% in the second quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 617 shares in the last quarter. Addison Advisors LLC increased its stake in shares of Weyerhaeuser by 83.4% during the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust's stock worth $39,000 after purchasing an additional 757 shares during the last quarter. Finally, Bayban acquired a new position in shares of Weyerhaeuser during the 4th quarter worth $41,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on WY shares. Raymond James Financial raised Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 price target for the company in a research report on Friday, July 10th. Citigroup lowered their price target on Weyerhaeuser from $30.00 to $29.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Truist Financial restated a "hold" rating and issued a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a research note on Monday, August 3rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Weyerhaeuser in a report on Friday, July 17th. Finally, Weiss Ratings upgraded shares of Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.00.

Weyerhaeuser Stock Down 0.9%

Shares of NYSE:WY opened at $24.40 on Friday. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.75. The company's 50-day moving average price is $24.33 and its two-hundred day moving average price is $24.46. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The firm has a market cap of $17.59 billion, a P/E ratio of 37.54, a P/E/G ratio of 1.29 and a beta of 0.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share 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 analyst estimates of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. Weyerhaeuser's revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.12 earnings per share. As a group, research analysts forecast that Weyerhaeuser Company will post 0.32 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

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

Weyerhaeuser Company 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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