NewEdge Advisors LLC Raises Stake in Weyerhaeuser Company $WY

Key Points

• NewEdge Advisors increased its Weyerhaeuser stake by 317.4% in the first quarter, bringing its holdings to 89,800 shares valued at approximately $2.19 million. Institutional investors collectively own 82.99% of the company.
• Weyerhaeuser reported quarterly EPS of $0.13, exceeding the $0.08 analyst consensus, while revenue declined 8.3% year over year to $1.87 billion. The company declared a quarterly dividend of $0.21, representing a 3.4% annualized yield.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $29, compared with the stock’s recent price of $24.55.

NewEdge Advisors LLC increased its position in Weyerhaeuser Company (NYSE:WY - Free Report) by 317.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,800 shares of the real estate investment trust's stock after buying an additional 68,285 shares during the period. NewEdge Advisors LLC's holdings in Weyerhaeuser were worth $2,194,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of WY. Goldman Sachs Group Inc. boosted its stake in Weyerhaeuser by 18.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust's stock worth $65,878,000 after buying an additional 346,571 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Weyerhaeuser by 3.4% during the 1st quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust's stock valued at $1,348,000 after acquiring an additional 1,498 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Weyerhaeuser by 5.9% during the 1st quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust's stock worth $1,647,000 after acquiring an additional 3,124 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Weyerhaeuser during the 2nd quarter worth about $275,000. Finally, Bank of Nova Scotia boosted its position in shares of Weyerhaeuser by 10.2% in the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust's stock worth $2,354,000 after acquiring an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Down 1.1%

Shares of NYSE:WY opened at $24.55 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The stock has a market capitalization of $17.70 billion, a P/E ratio of 37.78, a PEG ratio of 1.33 and a beta of 0.89. The stock has a 50-day simple moving average of $24.35 and a 200-day simple moving average of $24.53.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter in the prior year, the company earned $0.12 EPS. The company's revenue was down 8.3% on a year-over-year basis. Equities analysts forecast that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Announces Dividend

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WY shares. Wall Street Zen upgraded shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. 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. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a report on Thursday, April 23rd. Citigroup lowered their price objective on shares of Weyerhaeuser from $30.00 to $29.00 and set a "buy" rating for the company in a research note on Tuesday, August 4th. Finally, JPMorgan Chase & Co. upped 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. One investment 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 company. According to data from MarketBeat, Weyerhaeuser presently has an average rating of "Moderate Buy" and an average target price of $29.00.

Weyerhaeuser Company 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.

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