Levin Capital Strategies L.P. Invests $2.25 Million in Weyerhaeuser Company $WY

Levin Capital Strategies L.P. acquired a new stake in Weyerhaeuser Company (NYSE:WY - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 94,000 shares of the real estate investment trust's stock, valued at approximately $2,250,000.

Other institutional investors also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in Weyerhaeuser by 21.6% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,406 shares of the real estate investment trust's stock worth $57,000 after purchasing an additional 428 shares during the period. Summit Financial LLC lifted its holdings in shares of Weyerhaeuser by 1.3% in the 4th quarter. Summit Financial LLC now owns 32,553 shares of the real estate investment trust's stock valued at $771,000 after buying an additional 428 shares during the period. BOKF NA boosted its stake in shares of Weyerhaeuser by 4.6% in the third quarter. BOKF NA now owns 10,503 shares of the real estate investment trust's stock valued at $260,000 after buying an additional 463 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Weyerhaeuser by 23.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,495 shares of the real estate investment trust's stock valued at $59,000 after buying an additional 472 shares in the last quarter. Finally, Kiley Juergens Wealth Management LLC grew its holdings in Weyerhaeuser by 2.4% during the fourth quarter. Kiley Juergens Wealth Management LLC now owns 20,624 shares of the real estate investment trust's stock worth $489,000 after acquiring an additional 487 shares during the period. Hedge funds and other institutional investors own 82.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on WY shares. Royal Bank Of Canada reiterated an "outperform" rating and issued a $30.00 price objective on shares of Weyerhaeuser in a research report on Friday, July 17th. Truist Financial restated a "hold" rating and set a $28.00 target price (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. DA Davidson reaffirmed a "buy" rating and set a $31.00 price target on shares of Weyerhaeuser in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Finally, Weiss Ratings upgraded shares of Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. One research 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. 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 Price Performance

Shares of NYSE:WY opened at $24.55 on Friday. The firm has a market capitalization of $17.70 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15. The business's 50 day simple moving average is $24.35 and its 200-day simple moving average is $24.53. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.75.

Weyerhaeuser (NYSE:WY - Get Free Report) last released 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. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.Weyerhaeuser's quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the business posted $0.12 EPS. As a group, equities analysts forecast that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 annualized dividend and a yield of 3.4%. Weyerhaeuser's dividend payout ratio is 129.23%.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source