Gabelli Funds LLC Has $6.01 Million Position in Weyerhaeuser Company $WY

Gabelli Funds LLC boosted its stake in shares of Weyerhaeuser Company (NYSE:WY) by 9.3% during the first quarter, HoldingsChannel.com reports. The firm owned 245,955 shares of the real estate investment trust’s stock after acquiring an additional 20,955 shares during the period. Gabelli Funds LLC’s holdings in Weyerhaeuser were worth $6,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. First Eagle Investment Management LLC grew its holdings in shares of Weyerhaeuser by 166.1% during the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after acquiring an additional 23,485,504 shares in the last quarter. Norges Bank acquired a new stake in Weyerhaeuser during the fourth quarter valued at $549,531,000. Manning & Napier Advisors LLC purchased a new position in Weyerhaeuser in the first quarter valued at about $101,969,000. Freestone Grove Partners LP grew its stake in Weyerhaeuser by 124.5% in the third quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock valued at $166,030,000 after purchasing an additional 3,713,932 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Weyerhaeuser by 16.9% in the 1st quarter. Bank of New York Mellon Corp now owns 17,717,871 shares of the real estate investment trust’s stock worth $432,848,000 after purchasing an additional 2,555,687 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on WY shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price target on shares of Weyerhaeuser in a research note on Friday, July 17th. Canadian Imperial Bank of Commerce set a $28.00 price objective on Weyerhaeuser in a report on Thursday, April 23rd. Weiss Ratings lowered shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research note on Friday, July 10th. Finally, DA Davidson reissued a “buy” rating and issued a $31.00 target price on shares of Weyerhaeuser in a research report on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Weyerhaeuser Stock Performance

WY opened at $23.91 on Tuesday. The company has a market cap of $17.24 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. The stock has a 50-day moving average of $24.07 and a 200-day moving average of $24.62. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $27.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same quarter in the prior year, the firm posted $0.11 EPS. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, equities research analysts forecast that Weyerhaeuser Company will post 0.3 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Weyerhaeuser’s dividend payout ratio is presently 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.