284,400 Shares in Weyerhaeuser Company $WY Acquired by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH acquired 284,400 Weyerhaeuser shares during the second quarter, valued at approximately $7 million. Institutional investors and hedge funds collectively own 82.99% of the company.
• Weyerhaeuser reported quarterly earnings of $0.13 per share, beating estimates of $0.08, while revenue reached $1.87 billion. However, revenue declined 8.3% year over year.
• Analysts maintain a generally positive outlook, with the stock holding a “Moderate Buy” consensus rating and an average price target of $29, compared with a recent share price of $24.81.

Erste Asset Management GmbH purchased a new position in Weyerhaeuser Company (NYSE:WY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 284,400 shares of the real estate investment trust's stock, valued at approximately $7,002,000.

Other large investors also recently bought and sold shares of the company. Essential Partners LLC raised its stake in shares of 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 purchasing an additional 1,208 shares during the period. Versant Capital Management Inc boosted its stake in shares of 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 valued at $34,000 after purchasing an additional 617 shares during the period. Addison Advisors LLC grew its holdings in Weyerhaeuser by 83.4% during the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 757 shares in the last quarter. Bayban acquired a new stake in Weyerhaeuser during the 4th quarter valued at $41,000. Finally, Costello Asset Management INC increased its stake in Weyerhaeuser by 118.9% during the 4th quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust's stock worth $43,000 after buying an additional 976 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $24.81 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75. The company's 50-day simple moving average is $24.35 and its 200-day simple moving average is $24.53. The stock has a market capitalization of $17.88 billion, a price-to-earnings ratio of 38.16, a PEG ratio of 1.33 and a beta of 0.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the company earned $0.12 earnings per share. Weyerhaeuser's quarterly revenue was down 8.3% on a year-over-year basis. Equities analysts anticipate that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial reiterated a "hold" rating and issued a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a report on Monday, August 3rd. Citigroup cut their price target on Weyerhaeuser from $30.00 to $29.00 and set a "buy" rating on the stock in a research note on Tuesday, August 4th. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a report on Thursday, April 23rd. JPMorgan Chase & Co. raised their price objective on Weyerhaeuser from $30.00 to $31.00 and gave the company an "overweight" rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $29.00.

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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