Weyerhaeuser Company $WY Stock Position Reduced by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management cut its Weyerhaeuser stake by 4.8%, selling 205,966 shares in the third quarter; it still held about 4.07 million shares, valued at $77.6 million.
• Weyerhaeuser reported quarterly EPS of $0.08, beating the $0.04 consensus, while revenue of $1.86 billion missed estimates. Revenue rose 8.4% year over year.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $26.10; the company’s annualized dividend was $0.84 per share, a 4.0% yield.

Pictet Asset Management Holding SA reduced its holdings in Weyerhaeuser Company (NYSE:WY - Free Report) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,074,085 shares of the real estate investment trust's stock after selling 205,966 shares during the period. Pictet Asset Management Holding SA owned about 0.57% of Weyerhaeuser worth $77,611,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. raised its holdings in shares of Weyerhaeuser by 3.9% during the third quarter. Alps Advisors Inc. now owns 44,170 shares of the real estate investment trust's stock worth $841,000 after purchasing an additional 1,656 shares during the last quarter. CenterBook Partners LP purchased a new stake in Weyerhaeuser in the third quarter valued at $277,000. Pine Haven Investment Counsel Inc boosted its holdings in Weyerhaeuser by 8.2% in the third quarter. Pine Haven Investment Counsel Inc now owns 12,490 shares of the real estate investment trust's stock valued at $238,000 after purchasing an additional 943 shares during the last quarter. Rakuten Investment Management Inc. boosted its holdings in Weyerhaeuser by 9.7% in the third quarter. Rakuten Investment Management Inc. now owns 129,384 shares of the real estate investment trust's stock valued at $2,529,000 after purchasing an additional 11,449 shares during the last quarter. Finally, Markel Group Inc. grew its position in Weyerhaeuser by 68.3% during the 3rd quarter. Markel Group Inc. now owns 202,000 shares of the real estate investment trust's stock worth $3,848,000 after purchasing an additional 82,000 shares during the period. Institutional investors and hedge funds own 82.99% of the company's stock.

Weyerhaeuser Stock Performance

WY opened at $21.12 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.82 and a quick ratio of 1.08. The firm has a fifty day moving average price of $20.52 and a 200 day moving average price of $23.53. Weyerhaeuser Company has a 1 year low of $18.25 and a 1 year high of $27.75. The stock has a market cap of $15.21 billion, a P/E ratio of 94.57, a P/E/G ratio of 4.45 and a beta of 0.92.

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

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Shareholders of record on Friday, September 4th were given a $0.21 dividend. The ex-dividend date was Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.0%. Weyerhaeuser's dividend payout ratio is 135.48%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Canadian Imperial Bank of Commerce reduced their price objective on Weyerhaeuser from $25.00 to $24.00 and set an "outperformer" rating for the company in a research note on Monday, November 2nd. DA Davidson lowered their target price on Weyerhaeuser from $31.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, October 27th. Seaport Research Partners set a $30.00 target price on Weyerhaeuser in a research note on Thursday, October 8th. Bank of America raised Weyerhaeuser from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $28.00 to $25.00 in a report on Wednesday, October 14th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $27.00 price target on shares of Weyerhaeuser in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $26.10.

About Weyerhaeuser

Weyerhaeuser is a timber, land and wood-products company founded in 1900 and headquartered in Seattle. It owns and manages timberlands in the United States and holds long-term forest-management licenses in Canada.

The company grows and harvests timber and manufactures wood products, including lumber, engineered wood products, oriented strand board and plywood. These materials are used in residential construction, remodeling and other building applications.

Weyerhaeuser also manages its timberlands for real estate, energy and other natural-resource opportunities.

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