Kornitzer Capital Management Inc. KS boosted its position in shares of Weyerhaeuser Co. (NYSE:WY) by 2.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 357,125 shares of the real estate investment trust’s stock after buying an additional 8,640 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Weyerhaeuser were worth $10,632,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Glenmede Trust Co. NA raised its position in shares of Weyerhaeuser by 591.3% in the first quarter. Glenmede Trust Co. NA now owns 14,448 shares of the real estate investment trust’s stock worth $446,000 after buying an additional 12,358 shares during the last quarter. CIBC World Markets Inc. bought a new stake in Weyerhaeuser during the first quarter valued at about $206,000. Franklin Resources Inc. raised its stake in Weyerhaeuser by 240.0% in the first quarter. Franklin Resources Inc. now owns 112,928 shares of the real estate investment trust’s stock valued at $3,499,000 after buying an additional 79,715 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Weyerhaeuser during the first quarter valued at about $915,000. Finally, Bessemer Group Inc. raised its stake in Weyerhaeuser by 46.1% in the first quarter. Bessemer Group Inc. now owns 15,776 shares of the real estate investment trust’s stock valued at $488,000 after buying an additional 4,975 shares during the last quarter. 75.73% of the stock is owned by institutional investors.
Weyerhaeuser Co. (NYSE:WY) traded up 0.58% on Friday, reaching $31.38. The company’s stock had a trading volume of 3,746,479 shares. The firm has a market capitalization of $23.50 billion, a price-to-earnings ratio of 40.44 and a beta of 1.39. Weyerhaeuser Co. has a 52 week low of $22.06 and a 52 week high of $33.17. The company has a 50 day moving average of $31.22 and a 200 day moving average of $31.18.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. Weyerhaeuser had a return on equity of 8.35% and a net margin of 7.24%. The firm had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $7.54 billion. During the same quarter last year, the firm posted $0.26 earnings per share. Weyerhaeuser’s quarterly revenue was up 23.0% on a year-over-year basis. On average, analysts forecast that Weyerhaeuser Co. will post $1.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, October 28th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.95%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 158.98%.
Several equities research analysts have recently issued reports on the company. Goldman Sachs Group Inc. assumed coverage on Weyerhaeuser in a research note on Thursday, September 22nd. They issued a “buy” rating and a $37.00 price objective for the company. Argus reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, September 20th. Dundee Securities lowered Weyerhaeuser from a “buy” rating to a “neutral” rating in a research note on Friday, August 12th. Citigroup Inc. raised their price objective on Weyerhaeuser from $36.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, August 8th. Finally, DA Davidson lowered Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Monday, August 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Weyerhaeuser currently has an average rating of “Buy” and an average price target of $35.38.
In other Weyerhaeuser news, Director Rick R. Holley sold 608,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $32.55, for a total transaction of $19,790,400.00. Following the completion of the sale, the director now directly owns 696,488 shares in the company, valued at approximately $22,670,684.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Denise M. Merle sold 15,049 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $31.12, for a total value of $468,324.88. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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