24,004 Shares in Weyerhaeuser Company $WY Acquired by Choate Investment Advisors

Choate Investment Advisors purchased a new position in shares of Weyerhaeuser Company (NYSE:WY) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 24,004 shares of the real estate investment trust’s stock, valued at approximately $569,000.

Several other hedge funds have also added to or reduced their stakes in WY. First Eagle Investment Management LLC lifted its holdings in Weyerhaeuser by 166.1% during the 4th 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 purchasing an additional 23,485,504 shares during the last quarter. Freestone Grove Partners LP lifted its holdings in Weyerhaeuser by 124.5% during 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 purchasing an additional 3,713,932 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Weyerhaeuser by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock worth $982,847,000 after purchasing an additional 2,343,724 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Weyerhaeuser by 86.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 4,300,937 shares of the real estate investment trust’s stock worth $106,620,000 after purchasing an additional 1,990,806 shares during the last quarter. Finally, Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Weyerhaeuser during the 3rd quarter worth approximately $48,986,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WY has been the topic of a number of recent research reports. JPMorgan Chase & Co. lowered their price objective on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 14th. Canadian Imperial Bank of Commerce set a $28.00 price objective on Weyerhaeuser in a research note on Thursday, April 23rd. Weiss Ratings upgraded Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Citigroup lowered their price objective on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, May 5th. Finally, DA Davidson restated a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research note on Monday, May 4th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and a consensus target price of $28.88.

Weyerhaeuser Trading Up 0.8%

Shares of WY opened at $23.84 on Wednesday. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $27.86. The business’s fifty day moving average is $24.02 and its 200-day moving average is $24.20. 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 market cap of $17.19 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 1.34 and a beta of 0.90.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 1.45% and a net margin of 5.78%.The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.11 EPS. Equities analysts anticipate that Weyerhaeuser Company will post 0.32 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Weyerhaeuser’s payout ratio is currently 155.56%.

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.