State Street Corp Grows Stock Holdings in Weyerhaeuser Company $WY

Key Points

• State Street increased its Weyerhaeuser stake by 3.3% in the second quarter, adding 1.1 million shares to own approximately 4.76% of the company, valued at $821.1 million. Institutional investors and hedge funds collectively own 82.99% of WY.
• Weyerhaeuser reported quarterly earnings of $0.13 per share, exceeding the $0.08 consensus estimate, while revenue of $1.87 billion also topped forecasts but declined 8.3% year over year.
• The stock opened at $21.12, near its 52-week low, while the company maintained a $0.21 quarterly dividend yielding about 4.0%. Analysts hold a “Moderate Buy” consensus rating with an average price target of $28.67.

State Street Corp raised its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,298,957 shares of the real estate investment trust's stock after acquiring an additional 1,106,553 shares during the period. State Street Corp owned approximately 4.76% of Weyerhaeuser worth $821,117,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in WY. Essential Partners LLC lifted its holdings in shares of Weyerhaeuser by 120,800.0% during the first quarter. Essential Partners LLC now owns 1,209 shares of the real estate investment trust's stock worth $30,000 after purchasing an additional 1,208 shares during the period. Nvwm LLC grew its position in Weyerhaeuser by 174.7% in the 2nd quarter. Nvwm LLC now owns 1,258 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 800 shares during the last quarter. Versant Capital Management Inc increased its stake in Weyerhaeuser by 77.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 617 shares during the period. Compass Financial Management LLC purchased a new position in Weyerhaeuser during the 2nd quarter worth $35,000. Finally, Bayban purchased a new position in Weyerhaeuser during the 4th quarter worth $41,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Down 1.9%

Shares of NYSE WY opened at $21.12 on Thursday. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 32.50, a price-to-earnings-growth ratio of 2.05 and a beta of 0.87. Weyerhaeuser Company has a 52 week low of $20.98 and a 52 week high of $27.75. The firm has a 50-day moving average price of $23.70 and a 200 day moving average price of $23.94. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same period in the prior year, the business posted $0.12 earnings per share. The firm's revenue for the quarter was down 8.3% compared to the same quarter last year. Equities research analysts anticipate that Weyerhaeuser Company will post 0.33 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend was Friday, September 4th. Weyerhaeuser's dividend payout ratio (DPR) is presently 129.23%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on WY shares. Weiss Ratings raised shares of Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. DA Davidson reissued a "buy" rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Tuesday, June 30th. Truist Financial restated a "hold" rating and issued a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. Wall Street Zen raised Weyerhaeuser from a "sell" rating to a "hold" rating in a report on Sunday, August 2nd. Finally, Raymond James Financial upgraded Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 target price on the stock in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Weyerhaeuser has a consensus rating of "Moderate Buy" and a consensus target price of $28.67.

Weyerhaeuser Profile

Weyerhaeuser NYSE: WY is a timberland owner and forest products company. Founded in 1900, the company owns or manages millions of acres of timberlands in the United States and Canada and sustainably grows, harvests and replenishes trees for use in construction and other applications.

Weyerhaeuser's products include lumber, oriented strand board, engineered wood products, structural panels and other building materials used in residential and commercial construction. The company also generates income from timber, logs, real estate and strategically managed natural-resource properties.

In addition to its forest products operations, Weyerhaeuser provides natural climate solutions, including carbon-storage opportunities associated with its timberlands.

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