Weyerhaeuser Company $WY Stock Bought by AIA Group Ltd

Key Points

• AIA Group increased its Weyerhaeuser stake by 62.6% in the third quarter, adding 447,617 shares to own about 1.16 million shares valued at $22.1 million.
• Analysts rate the stock a “Moderate Buy”, with an average price target of $26.10; institutional investors collectively own 82.99% of the company.
• Weyerhaeuser beat quarterly EPS estimates ($0.08 versus $0.04) but missed revenue expectations. Shares were reported down 3.4%, and the company’s quarterly dividend equates to an annualized yield of 4.1%.

AIA Group Ltd grew its position in shares of Weyerhaeuser Company (NYSE:WY - Free Report) by 62.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,162,608 shares of the real estate investment trust's stock after purchasing an additional 447,617 shares during the period. AIA Group Ltd owned approximately 0.16% of Weyerhaeuser worth $22,148,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in WY. Bank of New York Mellon Corp bought a new stake in Weyerhaeuser during the second quarter valued at approximately $468,969,000. Wellington Management Group LLP increased its holdings in shares of Weyerhaeuser by 14.3% in the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust's stock worth $1,043,164,000 after buying an additional 5,437,685 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Weyerhaeuser by 10.6% in the 2nd quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust's stock worth $1,225,232,000 after buying an additional 4,885,818 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in shares of Weyerhaeuser in the 1st quarter worth about $101,969,000. Finally, Kopernik Global Investors LLC bought a new position in Weyerhaeuser during the first quarter valued at approximately $46,529,000. Institutional investors own 82.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on WY shares. JPMorgan Chase & Co. decreased their price objective on Weyerhaeuser from $31.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, September 3rd. Seaport Research Partners set a $30.00 target price on Weyerhaeuser in a report on Thursday, October 8th. Bank of America raised Weyerhaeuser from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $28.00 to $25.00 in a research note on Wednesday, October 14th. Royal Bank Of Canada cut their price target on shares of Weyerhaeuser from $30.00 to $25.00 and set an "outperform" rating on the stock in a report on Friday, October 16th. Finally, The Goldman Sachs Group reissued a "buy" rating and set a $27.00 price objective on shares of Weyerhaeuser in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $26.10.

Weyerhaeuser Trading Down 3.4%

Shares of NYSE:WY opened at $20.57 on Wednesday. Weyerhaeuser Company has a 1 year low of $18.25 and a 1 year high of $27.75. The stock's fifty day moving average price is $20.73 and its 200-day moving average price is $23.64. The company has a market cap of $14.82 billion, a P/E ratio of 92.57, a PEG ratio of 2.60 and a beta of 0.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.08.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, October 29th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.04. Weyerhaeuser had a net margin of 6.47% and a return on equity of 1.72%. The business had revenue of $1.86 billion for the quarter, compared to analysts' expectations of $1.92 billion. During the same quarter in the prior year, the business earned $0.12 EPS. The business's revenue for the quarter was up 8.4% compared to the same quarter last year. Sell-side analysts expect that Weyerhaeuser Company will post 0.27 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were given a dividend of $0.21 per share. The ex-dividend date was Friday, September 4th. This represents a $0.84 annualized dividend and a yield of 4.1%. Weyerhaeuser's payout ratio is 135.48%.

About Weyerhaeuser

Weyerhaeuser NYSE: WY is a real estate investment trust focused on timberlands and wood products. The company owns or controls approximately 10.4 million acres of timberlands in the United States and manages additional timberlands under long-term licenses. Its operations are concentrated in major timber-producing regions, including the Pacific Northwest, the South and the Western United States.

Weyerhaeuser's principal products include lumber, engineered wood products, structural panels and other materials used in residential and commercial construction.

Want to see what other hedge funds are holding WY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weyerhaeuser Company (NYSE:WY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.