Bank of New York Mellon Corp Buys 2,555,687 Shares of Weyerhaeuser Company $WY

Key Points

• Bank of New York Mellon increased its Weyerhaeuser stake by 16.9% in the first quarter, buying 2.56 million more shares and lifting its holdings to 17.72 million shares worth about $432.8 million.
• Weyerhaeuser reported better-than-expected first-quarter earnings of $0.11 per share and revenue of $1.73 billion, slightly ahead of analysts’ forecasts.
• The company paid a quarterly dividend of $0.21 per share, or $0.84 annualized, for a dividend yield of about 3.4%, while analysts currently rate the stock a Moderate Buy with an average price target of $29.

Bank of New York Mellon Corp boosted its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 16.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,717,871 shares of the real estate investment trust's stock after purchasing an additional 2,555,687 shares during the period. Bank of New York Mellon Corp owned 2.46% of Weyerhaeuser worth $432,848,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in shares of Weyerhaeuser by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust's stock valued at $56,310,000 after purchasing an additional 47,709 shares during the period. Cambria Investment Management L.P. bought a new position in Weyerhaeuser during the third quarter worth about $1,265,000. CIBC Bancorp USA Inc. acquired a new position in Weyerhaeuser during the third quarter worth approximately $7,172,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new position in Weyerhaeuser during the fourth quarter worth approximately $7,870,000. Finally, Bfsg LLC raised its stake in Weyerhaeuser by 44.0% in the fourth quarter. Bfsg LLC now owns 274,190 shares of the real estate investment trust's stock valued at $6,496,000 after buying an additional 83,806 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $24.44 on Friday. The company has a market capitalization of $17.62 billion, a price-to-earnings ratio of 45.26, a PEG ratio of 1.28 and a beta of 0.89. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.75. The stock's 50 day moving average is $23.98 and its 200-day moving average is $24.62.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The business had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. Equities research analysts expect that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser's payout ratio is presently 155.56%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Weiss Ratings cut Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 25th. Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. DA Davidson restated a "buy" rating and issued a $31.00 price target on shares of Weyerhaeuser in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their price target on Weyerhaeuser from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Finally, Raymond James Financial raised shares of Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 price objective for the company in a research report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $29.00.

About Weyerhaeuser

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.

Want to see what other hedge funds are holding WY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weyerhaeuser Company (NYSE:WY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.