Manning & Napier Advisors LLC Invests $101.97 Million in Weyerhaeuser Company $WY

Key Points

• Manning & Napier Advisors LLC bought a new stake in Weyerhaeuser during the first quarter, purchasing 4.17 million shares valued at about $101.97 million. The position represented roughly 1.4% of its portfolio and 0.58% of Weyerhaeuser’s shares outstanding.
• Weyerhaeuser reported better-than-expected first-quarter earnings, with EPS of $0.11 versus the $0.04 consensus estimate. Revenue came in at $1.73 billion, slightly above expectations, though sales were down 2% from a year earlier.
• The company recently paid a quarterly dividend of $0.21 per share, annualizing to $0.84 and a yield of 3.6%. Analyst sentiment is mixed but constructive, with an average rating of Moderate Buy and a consensus price target of $29.11.

Manning & Napier Advisors LLC purchased a new stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,173,935 shares of the real estate investment trust's stock, valued at approximately $101,969,000. Weyerhaeuser makes up approximately 1.4% of Manning & Napier Advisors LLC's investment portfolio, making the stock its 21st biggest position. Manning & Napier Advisors LLC owned 0.58% of Weyerhaeuser as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC purchased a new position in Weyerhaeuser in the 4th quarter worth about $39,000. Addison Advisors LLC boosted its holdings in shares of Weyerhaeuser by 83.4% during the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust's stock valued at $39,000 after acquiring an additional 757 shares during the last quarter. Bayban bought a new stake in shares of Weyerhaeuser in the fourth quarter worth approximately $41,000. Costello Asset Management INC grew its stake in shares of Weyerhaeuser by 118.9% in the fourth quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust's stock worth $43,000 after acquiring an additional 976 shares during the period. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $43,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Performance

NYSE WY traded up $0.97 during trading hours on Friday, hitting $23.47. 6,520,157 shares of the company's stock traded hands, compared to its average volume of 5,395,314. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The firm has a market capitalization of $16.93 billion, a P/E ratio of 43.47, a P/E/G ratio of 1.26 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. The business's fifty day moving average price is $23.98 and its two-hundred day moving average price is $24.61.

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. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same period last year, the firm earned $0.11 earnings per share. The company's quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts predict that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a $0.21 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. Weyerhaeuser's dividend payout ratio is presently 155.56%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Raymond James Financial upgraded shares of Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a report on Friday. Wall Street Zen upgraded Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. lifted their price objective on Weyerhaeuser from $30.00 to $31.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Truist Financial reduced their price objective on Weyerhaeuser from $29.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, April 15th. Finally, Weiss Ratings downgraded Weyerhaeuser from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $29.11.

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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