Van ECK Associates Corp Cuts Stake in Weyerhaeuser Company $WY

Key Points

• Van ECK Associates cut its Weyerhaeuser stake by 77.4% in the second quarter, selling 683,389 shares and retaining 200,081 shares valued at approximately $4.79 million.
• Weyerhaeuser’s latest quarter exceeded expectations, with earnings of $0.13 per share versus a $0.08 estimate and revenue of $1.87 billion. However, revenue declined 8.3% year over year.
• The company declared a quarterly dividend of $0.21, equivalent to an annualized $0.84 payout and a 3.6% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $29, compared with shares opening at $23.20.

Van ECK Associates Corp lessened its holdings in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 77.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,081 shares of the real estate investment trust's stock after selling 683,389 shares during the period. Van ECK Associates Corp's holdings in Weyerhaeuser were worth $4,790,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WY. Essential Partners LLC raised its stake in Weyerhaeuser by 120,800.0% in the first quarter. Essential Partners LLC now owns 1,209 shares of the real estate investment trust's stock valued at $30,000 after buying an additional 1,208 shares during the last quarter. Nvwm LLC raised its position in shares of 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 purchasing an additional 800 shares during the last quarter. Versant Capital Management Inc boosted 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 worth $34,000 after purchasing an additional 617 shares in the last quarter. Compass Financial Management LLC purchased a new stake in Weyerhaeuser during the 2nd quarter worth approximately $35,000. Finally, Addison Advisors LLC increased its stake in 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 purchasing an additional 757 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $23.20 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 35.68, a PEG ratio of 2.26 and a beta of 0.87. The firm's 50 day simple moving average is $24.21 and its 200-day simple moving average is $24.28. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.75.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, beating 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 quarter last year, the business earned $0.12 earnings per share. The firm's revenue was down 8.3% on a year-over-year basis. Analysts expect that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. Weyerhaeuser's dividend payout ratio is presently 129.23%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. DA Davidson reissued a "buy" rating and set a $31.00 price objective on shares of Weyerhaeuser in a report on Tuesday, June 30th. Royal Bank Of Canada reiterated an "outperform" rating and set a $30.00 price target on shares of Weyerhaeuser in a research note on Friday, July 17th. Raymond James Financial upgraded shares of Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 price target on the stock in a report on Friday, July 10th. JPMorgan Chase & Co. upped their price objective on shares of Weyerhaeuser from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Finally, Weiss Ratings raised shares of Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. One 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 company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target 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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