Pittenger & Anderson Inc. Maintains Stake in Weyerhaeuser Company (WY)
Pittenger & Anderson Inc. maintained its position in shares of Weyerhaeuser Company (NYSE:WY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 70,024 shares of the real estate investment trust’s stock at the end of the 2nd quarter. Pittenger & Anderson Inc.’s holdings in Weyerhaeuser were worth $2,346,000 as of its most recent filing with the SEC.
Several other institutional investors also recently bought and sold shares of the stock. AMG Funds LLC grew its stake in shares of Weyerhaeuser by 0.9% in the 2nd quarter. AMG Funds LLC now owns 47,860 shares of the real estate investment trust’s stock worth $1,603,000 after buying an additional 442 shares during the last quarter. Aberdeen Asset Management PLC UK grew its stake in shares of Weyerhaeuser by 7.5% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 179,983 shares of the real estate investment trust’s stock worth $6,030,000 after buying an additional 12,537 shares during the last quarter. AXA grew its stake in shares of Weyerhaeuser by 22.1% in the 2nd quarter. AXA now owns 57,070 shares of the real estate investment trust’s stock worth $1,911,000 after buying an additional 10,337 shares during the last quarter. CIBC World Markets Inc. purchased a new stake in shares of Weyerhaeuser in the 2nd quarter worth approximately $250,000. Finally, Commonwealth Bank of Australia grew its stake in shares of Weyerhaeuser by 1.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 49,969 shares of the real estate investment trust’s stock worth $1,673,000 after buying an additional 809 shares during the last quarter. Institutional investors own 75.27% of the company’s stock.
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Several analysts recently weighed in on WY shares. BidaskClub upgraded Weyerhaeuser from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. BMO Capital Markets reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Weyerhaeuser in a research report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) cut Weyerhaeuser from a “conviction-buy” rating to a “buy” rating and set a $38.00 price objective on the stock. in a research report on Monday, July 31st. Finally, Bank of America Corporation cut Weyerhaeuser from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $36.00 to $35.00 in a research report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Weyerhaeuser currently has a consensus rating of “Hold” and an average target price of $37.00.
Weyerhaeuser Company (NYSE WY) opened at 33.64 on Monday. The company has a market capitalization of $25.33 billion, a PE ratio of 26.45 and a beta of 1.39. The stock’s 50 day moving average price is $32.51 and its 200 day moving average price is $33.30. Weyerhaeuser Company has a 12-month low of $28.58 and a 12-month high of $35.50.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.81 billion. Weyerhaeuser had a net margin of 14.09% and a return on equity of 7.17%. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.17 earnings per share. On average, equities analysts anticipate that Weyerhaeuser Company will post $1.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Thursday, September 7th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 97.64%.
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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