International Assets Investment Management LLC Takes $49,000 Position in Weyerhaeuser (NYSE:WY)

Posted by Defense World Staff on Jul 8th, 2023

Weyerhaeuser logo International Assets Investment Management LLC purchased a new stake in Weyerhaeuser (NYSE:WY – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,625 shares of the real estate investment trust’s stock, valued at approximately $49,000.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in Weyerhaeuser by 15.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 46,308,945 shares of the real estate investment trust’s stock worth $1,435,577,000 after acquiring an additional 6,333,675 shares during the period. JPMorgan Chase & Co. increased its position in Weyerhaeuser by 0.7% during the fourth quarter. JPMorgan Chase & Co. now owns 20,216,356 shares of the real estate investment trust’s stock worth $626,707,000 after acquiring an additional 147,458 shares during the period. Geode Capital Management LLC increased its position in Weyerhaeuser by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 16,663,200 shares of the real estate investment trust’s stock worth $515,706,000 after acquiring an additional 165,360 shares during the period. Norges Bank bought a new position in Weyerhaeuser during the fourth quarter worth $485,095,000. Finally, First Eagle Investment Management LLC increased its position in Weyerhaeuser by 2.8% during the fourth quarter. First Eagle Investment Management LLC now owns 14,459,306 shares of the real estate investment trust’s stock worth $448,238,000 after acquiring an additional 391,140 shares during the period. Institutional investors own 81.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on WY. Citigroup dropped their target price on shares of Weyerhaeuser from $39.00 to $36.00 in a research report on Thursday, April 6th. SpectralCast reaffirmed a “maintains” rating on shares of Weyerhaeuser in a research report on Wednesday, June 28th. StockNews.com initiated coverage on shares of Weyerhaeuser in a research note on Thursday, May 18th. They set a “hold” rating on the stock. DA Davidson lifted their price target on shares of Weyerhaeuser from $35.00 to $40.00 in a research note on Friday. Finally, Truist Financial decreased their price target on shares of Weyerhaeuser from $35.00 to $34.00 and set a “hold” rating on the stock in a research note on Tuesday, April 11th. Five investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Insider Activity

In related news, SVP Denise M. Merle sold 1,781 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $30.00, for a total transaction of $53,430.00. Following the transaction, the senior vice president now owns 160,507 shares in the company, valued at approximately $4,815,210. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Denise M. Merle sold 1,781 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $30.00, for a total transaction of $53,430.00. Following the transaction, the senior vice president now owns 160,507 shares in the company, valued at approximately $4,815,210. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Denise M. Merle sold 5,719 shares of the company’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $28.54, for a total transaction of $163,220.26. Following the transaction, the senior vice president now owns 154,788 shares in the company, valued at approximately $4,417,649.52. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.

Weyerhaeuser Stock Up 2.4 %

Shares of NYSE:WY opened at $33.45 on Friday. Weyerhaeuser has a 52 week low of $27.36 and a 52 week high of $37.37. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.89 and a current ratio of 1.24. The company’s fifty day moving average is $30.26 and its 200-day moving average is $30.92. The company has a market capitalization of $24.50 billion, a PE ratio of 19.56 and a beta of 1.50.

Weyerhaeuser (NYSE:WY – Free Report) last issued its earnings results on Friday, April 28th. The real estate investment trust reported $0.21 EPS for the quarter, beating the consensus estimate of $0.12 by $0.09. Weyerhaeuser had a net margin of 14.07% and a return on equity of 13.37%. The company had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $1.31 EPS. The firm’s revenue for the quarter was down 13.9% compared to the same quarter last year. Equities research analysts predict that Weyerhaeuser will post 0.9 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Friday, June 2nd were paid a $0.19 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.76 annualized dividend and a dividend yield of 2.27%. Weyerhaeuser’s dividend payout ratio is presently 44.44%.

Weyerhaeuser Profile

(Free Report)

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.