Manning & Napier Advisors LLC Buys Shares of 2,136,055 Weyerhaeuser Company $WY

Key Points

• Manning & Napier Advisors purchased 2.14 million Weyerhaeuser shares worth approximately $52.6 million, representing about 0.30% of the company. Institutional investors collectively own 82.99% of WY.
• Weyerhaeuser reported quarterly EPS of $0.13, exceeding the $0.08 analyst estimate, while revenue of $1.87 billion slightly topped forecasts but declined 8.3% year over year. The company declared a quarterly dividend of $0.21 per share, equivalent to a 3.4% annual yield.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $29, above the reported share price of $24.39.

Manning & Napier Advisors LLC bought a new stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 2,136,055 shares of the real estate investment trust's stock, valued at approximately $52,590,000. Manning & Napier Advisors LLC owned about 0.30% of Weyerhaeuser at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in WY. Parkside Financial Bank & Trust boosted its stake 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 valued at $57,000 after acquiring an additional 428 shares during the last quarter. Summit Financial LLC increased its position 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 worth $771,000 after purchasing an additional 428 shares during the last quarter. BOKF NA increased its position in shares of Weyerhaeuser by 4.6% in the 3rd quarter. BOKF NA now owns 10,503 shares of the real estate investment trust's stock worth $260,000 after purchasing an additional 463 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Weyerhaeuser by 23.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,495 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 472 shares in the last quarter. Finally, New Mexico Educational Retirement Board raised its stake in shares of Weyerhaeuser by 1.5% in the 4th quarter. New Mexico Educational Retirement Board now owns 33,219 shares of the real estate investment trust's stock valued at $787,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Price Performance

WY opened at $24.39 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. The company's 50-day moving average price is $24.33 and its 200 day moving average price is $24.44. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The firm has a market cap of $17.58 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 1.28 and a beta of 0.89.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. The company 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% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.12 earnings per share. As a group, sell-side analysts expect that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date is Friday, September 4th. Weyerhaeuser's dividend payout ratio is presently 129.23%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WY shares. Royal Bank Of Canada reissued an "outperform" rating and issued a $30.00 price objective on shares of Weyerhaeuser in a report on Friday, July 17th. Truist Financial reiterated a "hold" rating and issued a $28.00 target price (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. Weiss Ratings upgraded Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. JPMorgan Chase & Co. boosted 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, DA Davidson reissued a "buy" rating and set a $31.00 price target on shares of Weyerhaeuser in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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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