DAVENPORT & Co LLC grew its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 226.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 60,771 shares of the real estate investment trust's stock after acquiring an additional 42,152 shares during the quarter. DAVENPORT & Co LLC's holdings in Weyerhaeuser were worth $1,440,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in Weyerhaeuser in the second quarter valued at about $600,502,000. Freestone Grove Partners LP grew its stake in Weyerhaeuser by 124.5% during the third quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust's stock worth $166,030,000 after buying an additional 3,713,932 shares in the last quarter. Wellington Management Group LLP grew its stake in Weyerhaeuser by 6.3% during the third quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust's stock worth $982,847,000 after buying an additional 2,343,724 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Weyerhaeuser by 86.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,300,937 shares of the real estate investment trust's stock valued at $106,620,000 after buying an additional 1,990,806 shares during the period. Finally, Munich Reinsurance Co Stock Corp in Munich bought a new position in Weyerhaeuser in the 3rd quarter valued at about $48,986,000. 82.99% of the stock is owned by institutional investors and hedge funds.
Weyerhaeuser Stock Up 0.1%
WY stock opened at $23.88 on Monday. The stock has a market capitalization of $17.21 billion, a P/E ratio of 54.27 and a beta of 1.03. The company has a current ratio of 1.29, a quick ratio of 0.83 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 $29.62. The firm has a 50-day moving average price of $25.25 and a 200-day moving average price of $24.19.
Weyerhaeuser (NYSE:WY - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.58 billion. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The firm's revenue was down 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.11 EPS. As a group, equities research analysts anticipate that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.
Weyerhaeuser Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend was Tuesday, March 10th. Weyerhaeuser's payout ratio is presently 190.91%.
Analysts Set New Price Targets
A number of analysts have recently weighed in on WY shares. Citigroup upped their price target on shares of Weyerhaeuser from $30.00 to $32.00 and gave the stock a "buy" rating in a report on Friday, February 13th. Weiss Ratings raised shares of Weyerhaeuser from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, February 10th. Wall Street Zen downgraded shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Saturday, February 21st. Truist Financial upped their target price on Weyerhaeuser from $28.00 to $29.00 and gave the stock a "hold" rating in a research note on Monday, February 2nd. Finally, Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Weyerhaeuser in a report on Friday, December 12th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.88.
Get Our Latest Report on WY
Insiders Place Their Bets
In other news, Director Richard Beckwitt acquired 20,000 shares of the business's stock in a transaction that occurred on Thursday, February 19th. The shares were bought at an average price of $25.70 per share, with a total value of $514,000.00. Following the acquisition, the director directly owned 24,066 shares in the company, valued at $618,496.20. The trade was a 491.88% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James Calvin O'rourke acquired 4,000 shares of the business's stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average cost of $25.35 per share, for a total transaction of $101,400.00. Following the acquisition, the director owned 28,661 shares in the company, valued at $726,556.35. This represents a 16.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.27% of the company's stock.
Weyerhaeuser Company Profile
(
Free Report)
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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