Weyerhaeuser Company $WY Shares Purchased by AIA Group Ltd

Key Points

• AIA Group nearly doubled its Weyerhaeuser stake in the second quarter, acquiring 343,414 additional shares to hold 714,991 shares valued at approximately $17.1 million. Institutional investors and hedge funds collectively own 82.99% of WY.
• Analyst sentiment is favorable, with Weyerhaeuser carrying a consensus “Moderate Buy” rating and an average price target of $29.00. JPMorgan and Truist raised their price targets, while Raymond James upgraded the stock to “strong buy.”
• Weyerhaeuser beat quarterly earnings expectations with EPS of $0.13 versus $0.08 forecast and revenue of $1.87 billion, though revenue declined 8.3% year over year. The company also declared a quarterly dividend of $0.21 per share, implying a 3.4% annual yield.

AIA Group Ltd raised its stake in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 92.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 714,991 shares of the real estate investment trust's stock after acquiring an additional 343,414 shares during the quarter. AIA Group Ltd owned approximately 0.10% of Weyerhaeuser worth $17,117,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in WY. Goldman Sachs Group Inc. increased its position in shares of 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 purchasing an additional 346,571 shares during the last quarter. Empowered Funds LLC lifted its position in shares of Weyerhaeuser by 3.4% during the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust's stock worth $1,348,000 after purchasing an additional 1,498 shares during the last quarter. Intech Investment Management LLC lifted its position in shares of Weyerhaeuser by 5.9% during the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust's stock worth $1,647,000 after purchasing an additional 3,124 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in Weyerhaeuser in the second quarter worth about $275,000. Finally, Bank of Nova Scotia grew its stake in 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 purchasing an additional 8,500 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WY. Canadian Imperial Bank of Commerce set a $28.00 price objective on Weyerhaeuser in a research note on Thursday, April 23rd. Weiss Ratings upgraded Weyerhaeuser from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. boosted their price target on Weyerhaeuser from $30.00 to $31.00 and gave the company an "overweight" rating in a report on Monday, June 29th. Truist Financial reissued a "hold" rating and set a $28.00 price target (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. Finally, Raymond James Financial upgraded Weyerhaeuser from an "outperform" rating to a "strong-buy" rating and set a $30.00 price objective on the stock in a research note 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 data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $29.00.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $24.55 on Friday. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.75. The company has a market cap of $17.70 billion, a PE ratio of 37.78, a P/E/G 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. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its 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. The firm had revenue of $1.87 billion for the quarter, compared to analysts' expectations of $1.85 billion. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The firm's revenue was down 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.12 EPS. On average, equities research analysts forecast 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. Stockholders of record on Friday, September 4th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Friday, September 4th. Weyerhaeuser's dividend payout ratio (DPR) is 129.23%.

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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