AGF Investments Inc. Acquires Shares of 11,500 Weyerhaeuser Company (WY)
AGF Investments Inc. acquired a new stake in Weyerhaeuser Company (NYSE:WY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,500 shares of the real estate investment trust’s stock, valued at approximately $385,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in WY. BlackRock Inc. raised its stake in Weyerhaeuser by 3,527.2% in the first quarter. BlackRock Inc. now owns 54,673,687 shares of the real estate investment trust’s stock valued at $1,857,812,000 after buying an additional 53,166,351 shares in the last quarter. American Century Companies Inc. raised its stake in Weyerhaeuser by 14.3% in the first quarter. American Century Companies Inc. now owns 14,850,349 shares of the real estate investment trust’s stock valued at $504,615,000 after buying an additional 1,858,252 shares in the last quarter. Vanguard Group Inc. raised its stake in Weyerhaeuser by 3.4% in the first quarter. Vanguard Group Inc. now owns 47,873,124 shares of the real estate investment trust’s stock valued at $1,626,729,000 after buying an additional 1,553,556 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Weyerhaeuser by 3.7% in the first quarter. First Eagle Investment Management LLC now owns 35,579,410 shares of the real estate investment trust’s stock valued at $1,208,988,000 after buying an additional 1,260,154 shares in the last quarter. Finally, FIL Ltd raised its stake in Weyerhaeuser by 83.8% in the first quarter. FIL Ltd now owns 2,496,868 shares of the real estate investment trust’s stock valued at $84,843,000 after buying an additional 1,138,318 shares in the last quarter. Institutional investors and hedge funds own 75.27% of the company’s stock.
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A number of analysts have weighed in on the company. BMO Capital Markets restated a “buy” rating and issued a $36.00 price target on shares of Weyerhaeuser in a research note on Friday, June 23rd. BidaskClub upgraded Weyerhaeuser from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Bank of America Corporation cut Weyerhaeuser from a “buy” rating to a “neutral” rating and cut their price target for the company from $36.00 to $35.00 in a research note on Wednesday, July 5th. Zacks Investment Research cut Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $37.00.
Shares of Weyerhaeuser Company (WY) opened at 33.33 on Tuesday. Weyerhaeuser Company has a 52-week low of $28.58 and a 52-week high of $35.50. The stock’s 50 day moving average price is $32.45 and its 200-day moving average price is $33.29. The firm has a market cap of $25.10 billion, a PE ratio of 26.20 and a beta of 1.39.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm 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%. Weyerhaeuser’s quarterly revenue was up 9.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.17 earnings per share. On average, equities research analysts anticipate that Weyerhaeuser Company will post $1.05 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.24 annualized dividend and a yield of 3.72%. Weyerhaeuser’s dividend payout ratio (DPR) is 97.64%.
Weyerhaeuser Company Profile
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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