California Public Employees Retirement System Lowers Stock Holdings in Weyerhaeuser Company $WY

California Public Employees Retirement System lowered its stake in Weyerhaeuser Company (NYSE:WY) by 21.1% during the first quarter, HoldingsChannel reports. The firm owned 1,081,017 shares of the real estate investment trust’s stock after selling 289,675 shares during the quarter. California Public Employees Retirement System’s holdings in Weyerhaeuser were worth $26,409,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. First Eagle Investment Management LLC grew its position in Weyerhaeuser by 166.1% in the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after buying an additional 23,485,504 shares during the last quarter. Norges Bank purchased a new position in Weyerhaeuser during the 4th quarter worth $549,531,000. Manning & Napier Advisors LLC purchased a new position in Weyerhaeuser during the 1st quarter worth $101,969,000. Freestone Grove Partners LP lifted its stake in shares of Weyerhaeuser by 124.5% in 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 during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Weyerhaeuser by 16.9% in the 1st quarter. Bank of New York Mellon Corp now owns 17,717,871 shares of the real estate investment trust’s stock worth $432,848,000 after acquiring an additional 2,555,687 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $23.82 on Thursday. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. The firm has a 50 day moving average price of $24.02 and a 200 day moving average price of $24.63. The company has a market cap of $17.17 billion, a price-to-earnings ratio of 44.10, a PEG ratio of 1.33 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. Weyerhaeuser’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business earned $0.11 EPS. Sell-side analysts predict that Weyerhaeuser Company will post 0.3 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, June 5th. Weyerhaeuser’s dividend payout ratio (DPR) is 155.56%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WY. Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 price target on shares of Weyerhaeuser in a report on Friday, July 17th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. lifted their price objective on Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Finally, Citigroup dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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.