Mengis Capital Management Inc. Increases Stake in Weyerhaeuser Company (WY)
Mengis Capital Management Inc. grew its position in Weyerhaeuser Company (NYSE:WY) by 3.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 48,875 shares of the real estate investment trust’s stock after purchasing an additional 1,684 shares during the period. Weyerhaeuser makes up 1.1% of Mengis Capital Management Inc.’s holdings, making the stock its 25th largest position. Mengis Capital Management Inc.’s holdings in Weyerhaeuser were worth $1,663,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Barnett & Company Inc. acquired a new stake in Weyerhaeuser during the second quarter worth about $101,000. Dupont Capital Management Corp acquired a new stake in Weyerhaeuser during the second quarter worth about $109,000. Alexandria Capital LLC grew its holdings in Weyerhaeuser by 0.3% during the second quarter. Alexandria Capital LLC now owns 3,486 shares of the real estate investment trust’s stock worth $117,000 after acquiring an additional 12 shares during the period. Gemmer Asset Management LLC grew its holdings in Weyerhaeuser by 0.5% during the second quarter. Gemmer Asset Management LLC now owns 4,146 shares of the real estate investment trust’s stock worth $139,000 after acquiring an additional 20 shares during the period. Finally, First Command Bank grew its holdings in Weyerhaeuser by 73.1% during the second quarter. First Command Bank now owns 4,178 shares of the real estate investment trust’s stock worth $140,000 after acquiring an additional 1,765 shares during the period. 75.80% of the stock is currently owned by institutional investors and hedge funds.
Shares of Weyerhaeuser Company (NYSE WY) traded down $0.18 during mid-day trading on Tuesday, reaching $35.96. The company’s stock had a trading volume of 2,375,800 shares, compared to its average volume of 3,371,677. The stock has a market capitalization of $27,050.00, a P/E ratio of 36.88, a P/E/G ratio of 6.17 and a beta of 1.46. The company has a quick ratio of 1.15, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. Weyerhaeuser Company has a 52 week low of $28.75 and a 52 week high of $36.48.
Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.03. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. Weyerhaeuser had a return on equity of 8.15% and a net margin of 12.37%. Weyerhaeuser’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. equities research analysts anticipate that Weyerhaeuser Company will post 1.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.28 dividend on an annualized basis and a yield of 3.56%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.31. Weyerhaeuser’s dividend payout ratio is currently 253.06%.
Several analysts recently commented on WY shares. BidaskClub raised Weyerhaeuser from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) lowered Weyerhaeuser from a “conviction-buy” rating to a “buy” rating and set a $38.00 target price on the stock. in a report on Monday, July 31st. Zacks Investment Research lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. BMO Capital Markets lowered Weyerhaeuser from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $28.58 to $36.00 in a report on Monday, August 14th. Finally, JMP Securities lowered Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $36.00 target price on the stock. in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $37.20.
In other news, Director Rick R. Holley sold 227,341 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $35.05, for a total value of $7,968,302.05. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.20% of the company’s stock.
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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