Weyerhaeuser Company $WY Position Increased by Millennium Management LLC

Key Points

• Millennium Management LLC significantly increased its holdings in Weyerhaeuser Company by 2,952.7%, acquiring over 3 million shares valued at approximately $91.66 million.
• Weyerhaeuser recently announced a quarterly dividend of $0.21 per share, representing a yield of 3.2% and a payout ratio of 221.05%.
• A range of analysts have adjusted their ratings and target prices for Weyerhaeuser, with the current consensus rating being "Moderate Buy" and an average target price of $32.88.

Millennium Management LLC grew its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 2,952.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,130,367 shares of the real estate investment trust's stock after buying an additional 3,027,823 shares during the quarter. Millennium Management LLC owned 0.43% of Weyerhaeuser worth $91,657,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of WY. AXA S.A. grew its stake in Weyerhaeuser by 123.0% during the fourth quarter. AXA S.A. now owns 18,197 shares of the real estate investment trust's stock worth $512,000 after buying an additional 10,036 shares during the period. Aptus Capital Advisors LLC purchased a new stake in Weyerhaeuser during the fourth quarter worth approximately $219,000. Ameriprise Financial Inc. grew its stake in Weyerhaeuser by 9.3% during the fourth quarter. Ameriprise Financial Inc. now owns 1,398,286 shares of the real estate investment trust's stock worth $39,362,000 after buying an additional 118,938 shares during the period. Cetera Investment Advisers boosted its stake in shares of Weyerhaeuser by 12.5% in the fourth quarter. Cetera Investment Advisers now owns 70,319 shares of the real estate investment trust's stock valued at $1,979,000 after purchasing an additional 7,810 shares during the period. Finally, Cresset Asset Management LLC boosted its stake in shares of Weyerhaeuser by 2.0% in the fourth quarter. Cresset Asset Management LLC now owns 33,043 shares of the real estate investment trust's stock valued at $930,000 after purchasing an additional 656 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

WY traded up $0.71 on Thursday, reaching $25.81. The company had a trading volume of 2,557,841 shares, compared to its average volume of 4,058,865. The company has a fifty day moving average of $25.80 and a 200-day moving average of $26.69. The company has a market capitalization of $18.62 billion, a P/E ratio of 67.99, a PEG ratio of 79.92 and a beta of 1.07. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a one year low of $24.10 and a one year high of $34.03.

Weyerhaeuser (NYSE:WY - Get Free Report) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. Weyerhaeuser's revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.21 EPS. As a group, equities research analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Weyerhaeuser's dividend payout ratio is currently 221.05%.

Insider Buying and Selling

In other news, Director Sara Grootwassink Lewis acquired 4,000 shares of Weyerhaeuser stock in a transaction on Monday, August 11th. The stock was bought at an average cost of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director owned 21,478 shares of the company's stock, valued at $543,178.62. This represents a 22.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.27% of the company's stock.

Analyst Upgrades and Downgrades

WY has been the subject of several analyst reports. The Goldman Sachs Group downgraded shares of Weyerhaeuser from a "strong-buy" rating to a "strong sell" rating in a research note on Friday, May 23rd. CIBC decreased their target price on shares of Weyerhaeuser from $32.00 to $31.00 and set an "outperformer" rating for the company in a research note on Thursday. DA Davidson decreased their target price on shares of Weyerhaeuser from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, July 22nd. Wall Street Zen cut shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. Finally, Truist Financial cut their price target on shares of Weyerhaeuser from $30.00 to $29.00 and set a "hold" rating on the stock in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $32.75.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.