Firetrail Investments PTY Ltd. Buys New Shares in Weyerhaeuser Company $WY

Firetrail Investments PTY Ltd. purchased a new stake in shares of Weyerhaeuser Company (NYSE:WY) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 400,230 shares of the real estate investment trust’s stock, valued at approximately $9,523,000. Weyerhaeuser accounts for 2.7% of Firetrail Investments PTY Ltd.’s investment portfolio, making the stock its 16th largest holding.

Several other institutional investors have also recently made changes to their positions in WY. First Eagle Investment Management LLC grew its stake 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 during the period. Norges Bank bought a new stake in Weyerhaeuser during the 4th quarter worth approximately $549,531,000. Bank of New York Mellon Corp purchased a new position in Weyerhaeuser during the second quarter valued at approximately $468,969,000. Manning & Napier Advisors LLC purchased a new position in Weyerhaeuser during the first quarter valued at approximately $101,969,000. Finally, Freestone Grove Partners LP boosted its position in shares of 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 worth $166,030,000 after purchasing an additional 3,713,932 shares during the period. Institutional investors own 82.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on WY. Citigroup cut their price target on Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upped their price target on Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Weyerhaeuser in a report on Friday, July 17th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a research report on Friday, July 10th. Finally, Canadian Imperial Bank of Commerce set a $28.00 target price on shares of Weyerhaeuser in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and an average target price of $29.00.

Weyerhaeuser Price Performance

NYSE:WY opened at $24.55 on Monday. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $17.70 billion, a P/E ratio of 37.78, a P/E/G ratio of 1.29 and a beta of 0.89. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.75. The business’s 50-day moving average is $24.35 and its 200 day moving average is $24.51.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the business posted $0.12 EPS. The firm’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. Weyerhaeuser’s dividend payout ratio (DPR) is 129.23%.

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.