Weyerhaeuser (NYSE:WY) Position Boosted by Nuveen Asset Management LLC

Nuveen Asset Management LLC lifted its position in Weyerhaeuser (NYSE:WY - Free Report) by 6.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,827,482 shares of the real estate investment trust's stock after purchasing an additional 230,581 shares during the quarter. Nuveen Asset Management LLC owned 0.53% of Weyerhaeuser worth $107,744,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WY. Norges Bank bought a new position in shares of Weyerhaeuser in the 4th quarter worth approximately $638,470,000. Cohen & Steers Inc. increased its holdings in shares of Weyerhaeuser by 57.5% in the 4th quarter. Cohen & Steers Inc. now owns 38,928,176 shares of the real estate investment trust's stock worth $1,095,726,000 after purchasing an additional 14,213,243 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Weyerhaeuser by 122.3% in the 4th quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust's stock worth $137,417,000 after purchasing an additional 2,685,634 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Weyerhaeuser by 43.6% in the 4th quarter. Deutsche Bank AG now owns 4,196,790 shares of the real estate investment trust's stock worth $118,140,000 after buying an additional 1,273,217 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in Weyerhaeuser during the fourth quarter valued at approximately $27,332,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on Weyerhaeuser in a report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price target on the stock. StockNews.com raised Weyerhaeuser from a "sell" rating to a "hold" rating in a research note on Thursday, February 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 target price on shares of Weyerhaeuser in a research note on Monday, February 3rd. Truist Financial cut their target price on Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, CIBC lowered their target price on Weyerhaeuser from $35.00 to $32.00 and set an "outperformer" rating for the company in a report on Tuesday, April 22nd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $33.75.

Weyerhaeuser Price Performance

Shares of WY stock traded down $0.30 during trading hours on Tuesday, hitting $26.20. The company's stock had a trading volume of 2,871,662 shares, compared to its average volume of 3,737,445. Weyerhaeuser has a twelve month low of $24.10 and a twelve month high of $34.03. The business has a fifty day moving average of $26.97 and a 200-day moving average of $28.98. The stock has a market cap of $19.00 billion, a price-to-earnings ratio of 47.64, a P/E/G ratio of 4.74 and a beta of 1.15. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, hitting analysts' consensus estimates of $0.11. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.80 billion. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. Weyerhaeuser's revenue was down 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 earnings per share. As a group, equities research analysts anticipate that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser declared that its Board of Directors has approved a share buyback plan on Thursday, May 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the real estate investment trust to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, May 30th. Weyerhaeuser's dividend payout ratio is presently 168.00%.

Weyerhaeuser Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.