CIBC Asset Management Inc Purchases 69,169 Shares of Weyerhaeuser Company $WY

CIBC Asset Management Inc raised its position in Weyerhaeuser Company (NYSE:WY) by 68.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 170,151 shares of the real estate investment trust’s stock after purchasing an additional 69,169 shares during the quarter. CIBC Asset Management Inc’s holdings in Weyerhaeuser were worth $4,031,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WY. FNY Investment Advisers LLC bought a new position in Weyerhaeuser in the fourth quarter valued at about $39,000. Addison Advisors LLC raised its position in Weyerhaeuser by 83.4% in the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 757 shares during the last quarter. Optiver Holding B.V. bought a new position in Weyerhaeuser in the third quarter valued at about $42,000. Costello Asset Management INC raised its position in Weyerhaeuser by 118.9% in the fourth quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 976 shares during the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in Weyerhaeuser in the fourth quarter valued at about $43,000. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on WY. Truist Financial dropped their target price on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. Citigroup dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. Canadian Imperial Bank of Commerce set a $28.00 target price on Weyerhaeuser in a research report on Thursday, April 23rd. DA Davidson restated a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research report on Monday, May 4th. Finally, JPMorgan Chase & Co. lowered their price objective on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.88.

Weyerhaeuser Price Performance

Shares of WY opened at $24.51 on Friday. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.86. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80. The company has a market capitalization of $17.67 billion, a price-to-earnings ratio of 45.39, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89. The business has a 50-day moving average of $24.18 and a 200-day moving average of $24.29.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping 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 last year, the company earned $0.11 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

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

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.