Bank of New York Mellon Corp Raises Stock Holdings in Weyerhaeuser Company $WY

Bank of New York Mellon Corp raised its position in shares of Weyerhaeuser Company (NYSE:WY) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,162,184 shares of the real estate investment trust’s stock after acquiring an additional 211,668 shares during the period. Bank of New York Mellon Corp’s holdings in Weyerhaeuser were worth $359,192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of WY. First Eagle Investment Management LLC raised its holdings in shares of Weyerhaeuser by 166.1% during the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after acquiring an additional 23,485,504 shares in the last quarter. Norges Bank purchased a new stake in shares of Weyerhaeuser during the 4th quarter worth approximately $549,531,000. Freestone Grove Partners LP raised its holdings in shares of Weyerhaeuser by 124.5% during the 3rd quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after acquiring an additional 3,713,932 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Weyerhaeuser by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock worth $982,847,000 after acquiring an additional 2,343,724 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Weyerhaeuser by 86.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,300,937 shares of the real estate investment trust’s stock worth $106,620,000 after acquiring an additional 1,990,806 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on WY shares. Citigroup decreased their price objective on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a report on Thursday, April 23rd. DA Davidson restated a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Monday, May 4th. Truist Financial decreased their price target on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Finally, Weiss Ratings lowered Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Weyerhaeuser presently has an average rating of “Moderate Buy” and a consensus target price of $28.88.

Weyerhaeuser Stock Performance

NYSE:WY opened at $24.71 on Friday. The stock’s fifty day moving average is $24.17 and its 200 day moving average is $24.29. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.86. The firm has a market capitalization of $17.82 billion, a PE ratio of 45.76, a PEG ratio of 1.39 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $0.11 EPS. Weyerhaeuser’s quarterly revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 5th. Weyerhaeuser’s dividend payout ratio is 155.56%.

Weyerhaeuser Company Profile

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.