Bank of New York Mellon Corp Boosts Holdings in Weyerhaeuser Company $WY

Bank of New York Mellon Corp lifted its holdings in Weyerhaeuser Company (NYSE:WY) by 86.5% in the second quarter, HoldingsChannel reports. The fund owned 13,550,466 shares of the real estate investment trust’s stock after buying an additional 6,284,982 shares during the period. Bank of New York Mellon Corp’s holdings in Weyerhaeuser were worth $348,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GKV Capital Management Co. Inc. purchased a new position in Weyerhaeuser in the 1st quarter worth $29,000. Hantz Financial Services Inc. grew its stake in shares of Weyerhaeuser by 86.3% during the second quarter. Hantz Financial Services Inc. now owns 1,125 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 521 shares during the last quarter. Costello Asset Management INC purchased a new position in shares of Weyerhaeuser in the first quarter worth about $32,000. Marshall Investment Management LLC bought a new stake in shares of Weyerhaeuser in the 1st quarter valued at about $36,000. Finally, Private Wealth Asset Management LLC lifted its stake in shares of Weyerhaeuser by 135.2% in the 2nd quarter. Private Wealth Asset Management LLC now owns 1,404 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 807 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Insider Buying and Selling

In related news, Director Sara Grootwassink Lewis acquired 4,000 shares of the stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director directly owned 21,478 shares of the company’s stock, valued at approximately $543,178.62. This represents a 22.89% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WY. Weiss Ratings restated a “hold (c-)” rating on shares of Weyerhaeuser in a research report on Wednesday, October 8th. Citigroup dropped their price objective on Weyerhaeuser from $30.00 to $28.00 and set a “buy” rating for the company in a research note on Monday, October 27th. Royal Bank Of Canada cut their target price on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday. Truist Financial lowered their price target on shares of Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating for the company in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. cut their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and an average target price of $31.00.

Weyerhaeuser Price Performance

WY opened at $22.60 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04. The stock has a market capitalization of $16.30 billion, a PE ratio of 59.47, a price-to-earnings-growth ratio of 244.04 and a beta of 1.05. The stock’s 50 day moving average price is $24.48 and its 200-day moving average price is $25.46. Weyerhaeuser Company has a 52-week low of $22.28 and a 52-week high of $32.70.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.13. The business had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The firm’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.05 earnings per share. On average, equities research analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.7%. Weyerhaeuser’s payout ratio is currently 186.67%.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.