Evolve Private Wealth LLC Makes New $633,000 Investment in Weyerhaeuser Company $WY

Evolve Private Wealth LLC bought a new position in Weyerhaeuser Company (NYSE:WY) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,891 shares of the real estate investment trust’s stock, valued at approximately $633,000.

A number of other large investors have also made changes to their positions in WY. Goldman Sachs Group Inc. boosted its stake in Weyerhaeuser by 18.2% in the 1st 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 period. Empowered Funds LLC raised its stake in Weyerhaeuser by 3.4% during 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 purchasing an additional 1,498 shares during the period. Intech Investment Management LLC raised its stake in Weyerhaeuser by 5.9% during 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 purchasing an additional 3,124 shares during the period. Gamco Investors INC. ET AL purchased a new stake in shares of Weyerhaeuser in the second quarter valued at $275,000. Finally, Bank of Nova Scotia lifted its holdings in shares of Weyerhaeuser by 10.2% in the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock valued at $2,354,000 after purchasing an additional 8,500 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WY. JPMorgan Chase & Co. lowered their price target on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Weiss Ratings raised Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Truist Financial reduced their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, April 15th. DA Davidson restated a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Monday, May 4th. Finally, Citigroup lowered their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $28.88.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $25.33 on Thursday. The business’s 50-day moving average price is $24.22 and its two-hundred day moving average price is $24.55. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75. The company has a market capitalization of $18.26 billion, a P/E ratio of 46.90, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last issued its 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. 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 business’s revenue was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.11 EPS. Analysts anticipate that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm 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 dividend on an annualized basis and a yield of 3.3%. Weyerhaeuser’s payout ratio is 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.