Bank of New York Mellon Corp Buys 211,668 Shares of Weyerhaeuser Company $WY

Bank of New York Mellon Corp grew its stake in shares of Weyerhaeuser Company (NYSE:WY) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,162,184 shares of the real estate investment trust’s stock after buying an additional 211,668 shares during the period. Bank of New York Mellon Corp owned 2.10% of Weyerhaeuser worth $359,192,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of WY. First Eagle Investment Management LLC boosted its stake in Weyerhaeuser by 166.1% in the fourth 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 buying an additional 23,485,504 shares in the last quarter. Norges Bank purchased a new stake in Weyerhaeuser in the fourth quarter worth $549,531,000. Freestone Grove Partners LP lifted its stake in Weyerhaeuser by 124.5% in the third 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 during the period. Wellington Management Group LLP lifted its stake in Weyerhaeuser by 6.3% in the third 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 during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Weyerhaeuser by 86.2% in the third 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 during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Trading Up 1.0%

Shares of NYSE:WY opened at $24.71 on Friday. The stock has a 50 day moving average of $24.17 and a 200 day moving average of $24.29. The company has a market cap of $17.82 billion, a PE ratio of 45.76, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.86.

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. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $0.11 EPS. The firm’s revenue was down 2.0% on a year-over-year basis. As a group, equities research analysts expect that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Announces Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on WY. Citigroup decreased their price objective on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. JPMorgan Chase & Co. reduced their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce set a $28.00 price objective on shares of Weyerhaeuser in a research note on Thursday, April 23rd. Truist Financial reduced their price objective on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Finally, Weiss Ratings downgraded Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, May 26th. Six research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.88.

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.