Wesbanco Bank Inc. bought a new stake in Weyerhaeuser Company (NYSE:WY – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 7,827 shares of the real estate investment trust’s stock, valued at approximately $201,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in WY. Nuveen LLC acquired a new position in shares of Weyerhaeuser in the 1st quarter valued at approximately $107,330,000. Millennium Management LLC raised its position in shares of Weyerhaeuser by 2,952.7% in the 1st quarter. Millennium Management LLC now owns 3,130,367 shares of the real estate investment trust’s stock valued at $91,657,000 after buying an additional 3,027,823 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Weyerhaeuser by 63.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust’s stock valued at $212,733,000 after buying an additional 2,833,288 shares in the last quarter. Clean Energy Transition LLP acquired a new position in Weyerhaeuser during the 1st quarter worth approximately $55,429,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in Weyerhaeuser during the 1st quarter worth approximately $53,061,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.
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Analysts Set New Price Targets
WY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Tuesday, July 1st. Wall Street Zen cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. CIBC lowered their price objective on shares of Weyerhaeuser from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Thursday, September 11th. Truist Financial lowered their price objective on shares of Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating for the company in a research report on Monday, July 28th. Finally, The Goldman Sachs Group cut shares of Weyerhaeuser from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.75.
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Weyerhaeuser Stock Up 0.5%
Weyerhaeuser stock opened at $24.95 on Wednesday. Weyerhaeuser Company has a 1-year low of $24.10 and a 1-year high of $34.03. The firm has a market capitalization of $18.00 billion, a price-to-earnings ratio of 65.66, a price-to-earnings-growth ratio of 78.49 and a beta of 1.07. The firm’s fifty day moving average price is $25.72 and its two-hundred day moving average price is $26.54. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45.
Weyerhaeuser (NYSE:WY – Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same period last year, the firm earned $0.21 earnings per share. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities research analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.
Weyerhaeuser Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, August 29th. Weyerhaeuser’s dividend payout ratio (DPR) is 221.05%.
Insider Buying and Selling at Weyerhaeuser
In other Weyerhaeuser news, Director Sara Grootwassink Lewis acquired 4,000 shares of the company’s stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director owned 21,478 shares of the company’s stock, valued at approximately $543,178.62. This represents a 22.89% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.27% of the company’s stock.
About Weyerhaeuser
(Free Report)
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.
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