Arrowstreet Capital Limited Partnership Has $151.77 Million Position in Weyerhaeuser Company $WY

Arrowstreet Capital Limited Partnership lifted its stake in shares of Weyerhaeuser Company (NYSE:WY) by 11.5% during the 1st quarter, HoldingsChannel reports. The firm owned 6,212,273 shares of the real estate investment trust’s stock after acquiring an additional 639,334 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Weyerhaeuser were worth $151,766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Weyerhaeuser by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after purchasing an additional 346,571 shares during the last quarter. Empowered Funds LLC raised its holdings in Weyerhaeuser by 3.4% in the 1st quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock valued at $1,348,000 after buying an additional 1,498 shares during the last quarter. Intech Investment Management LLC raised its holdings in Weyerhaeuser by 5.9% in the 1st quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock valued at $1,647,000 after buying an additional 3,124 shares during the last quarter. Gamco Investors INC. ET AL acquired a new stake in Weyerhaeuser during the 2nd quarter worth approximately $275,000. Finally, Bank of Nova Scotia boosted its position in Weyerhaeuser by 10.2% during the 2nd quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after buying an additional 8,500 shares during the period. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $23.97 on Friday. The company has a market cap of $17.28 billion, a PE ratio of 44.38, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. The business has a 50 day moving average price of $24.05 and a 200-day moving average price of $24.62. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54.

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, topping the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company earned $0.11 earnings per share. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts anticipate that Weyerhaeuser Company will post 0.3 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a $0.21 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. Weyerhaeuser’s payout ratio is presently 155.56%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WY shares. JPMorgan Chase & Co. raised their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Truist Financial cut their target price on Weyerhaeuser from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 price target on shares of Weyerhaeuser in a research report on Friday, July 17th. DA Davidson restated a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Finally, Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research report on Thursday, April 23rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Weyerhaeuser has an average rating of “Moderate Buy” and an average price target of $29.00.

About Weyerhaeuser

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.