Draper Asset Management LLC Acquires 20,514 Shares of Weyerhaeuser Company $WY

Draper Asset Management LLC lifted its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 40.0% in the 1st quarter, HoldingsChannel reports. The fund owned 71,792 shares of the real estate investment trust’s stock after purchasing an additional 20,514 shares during the period. Weyerhaeuser makes up approximately 1.0% of Draper Asset Management LLC’s investment portfolio, making the stock its 15th biggest holding. Draper Asset Management LLC’s holdings in Weyerhaeuser were worth $1,754,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System bought a new stake in Weyerhaeuser during the 1st quarter worth approximately $897,000. Fiduciary Alliance LLC raised its stake in shares of Weyerhaeuser by 106.5% in the first quarter. Fiduciary Alliance LLC now owns 203,044 shares of the real estate investment trust’s stock worth $4,916,000 after purchasing an additional 104,701 shares during the last quarter. OP Asset Management Ltd bought a new position in shares of Weyerhaeuser in the first quarter valued at approximately $1,865,000. Cidel Asset Management Inc. grew its holdings in Weyerhaeuser by 26.1% during the first quarter. Cidel Asset Management Inc. now owns 11,896 shares of the real estate investment trust’s stock worth $291,000 after buying an additional 2,460 shares in the last quarter. Finally, Values First Advisors Inc. raised its position in Weyerhaeuser by 5.6% in the 1st quarter. Values First Advisors Inc. now owns 18,110 shares of the real estate investment trust’s stock valued at $442,000 after buying an additional 963 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Up 1.7%

WY stock opened at $25.74 on Friday. The stock has a fifty day moving average of $24.24 and a 200-day moving average of $24.58. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The company has a market capitalization of $18.56 billion, a price-to-earnings ratio of 47.66, a PEG ratio of 1.43 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 announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.11 EPS. As a group, equities research analysts predict that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a dividend of $0.21 per share. The ex-dividend date was Friday, June 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.3%. Weyerhaeuser’s dividend payout ratio is currently 155.56%.

Analysts Set New Price Targets

Several brokerages have weighed in on WY. Canadian Imperial Bank of Commerce set a $28.00 price objective on Weyerhaeuser in a research note on Thursday, April 23rd. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial dropped their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, April 15th. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Finally, Citigroup reduced their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.88.

Weyerhaeuser 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.