Illinois Municipal Retirement Fund Boosts Stock Holdings in Weyerhaeuser Company $WY

Key Points

• Illinois Municipal Retirement Fund increased its Weyerhaeuser stake by 25% in the first quarter, buying 66,770 additional shares and bringing its total to 334,326 shares worth about $8.17 million.
• Weyerhaeuser reported better-than-expected quarterly earnings of $0.11 per share versus $0.04 expected, with revenue of $1.73 billion slightly above estimates, though revenue was still down 2% year over year.
• The company continues to offer a 3.4% dividend yield and has received generally positive analyst coverage, with a consensus rating of Moderate Buy and an average price target of $29.

Illinois Municipal Retirement Fund grew its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 25.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 334,326 shares of the real estate investment trust's stock after purchasing an additional 66,770 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Weyerhaeuser were worth $8,168,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WY. FNY Investment Advisers LLC purchased a new position in Weyerhaeuser during the fourth quarter valued at approximately $39,000. Addison Advisors LLC raised its stake in Weyerhaeuser by 83.4% in the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust's stock worth $39,000 after buying an additional 757 shares in the last quarter. Bayban purchased a new stake in Weyerhaeuser during the fourth quarter worth $41,000. Costello Asset Management INC boosted its position 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 valued at $43,000 after acquiring an additional 976 shares in the last quarter. Finally, Lloyd Advisory Services LLC. bought a new stake in Weyerhaeuser during the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $24.46 on Friday. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.75. The business's fifty day simple moving average is $23.99 and its 200-day simple moving average is $24.62. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market cap of $17.64 billion, a PE ratio of 45.30, a PEG ratio of 1.34 and a beta of 0.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm had revenue of $1.73 billion during the quarter, compared to analysts' expectations of $1.72 billion. During the same quarter last year, the firm earned $0.11 EPS. The business's quarterly revenue was down 2.0% on a year-over-year basis. Analysts expect that Weyerhaeuser Company will post 0.31 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser's dividend payout ratio (DPR) is currently 155.56%.

Wall Street Analysts Forecast Growth

WY has been the topic of a number of analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and issued a $30.00 price target on shares of Weyerhaeuser in a report on Friday. Raymond James Financial upgraded Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a research note on Friday, July 10th. Canadian Imperial Bank of Commerce set a $28.00 target price on shares of Weyerhaeuser in a report on Thursday, April 23rd. Weiss Ratings downgraded shares of Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 25th. Finally, Wall Street Zen raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One equities research 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 stock. According to MarketBeat.com, the company presently 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.

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