Summit Financial LLC Buys New Shares in Weyerhaeuser (NYSE:WY)

Summit Financial LLC purchased a new position in Weyerhaeuser (NYSE:WY) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 26,408 shares of the real estate investment trust’s stock, valued at approximately $743,000.

A number of other institutional investors and hedge funds have also bought and sold shares of WY. Norges Bank bought a new position in shares of Weyerhaeuser during the fourth quarter worth $638,470,000. Wellington Management Group LLP lifted its stake in Weyerhaeuser by 12.7% in the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock worth $1,210,694,000 after purchasing an additional 4,035,048 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Weyerhaeuser by 122.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 4,881,592 shares of the real estate investment trust’s stock valued at $137,417,000 after purchasing an additional 2,685,634 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Weyerhaeuser during the third quarter valued at about $40,773,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Weyerhaeuser in the fourth quarter worth about $26,206,000. 82.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WY has been the topic of a number of research reports. BMO Capital Markets raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Friday, December 6th. Raymond James upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Monday, December 23rd. Citigroup dropped their price objective on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research note on Wednesday, January 15th. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price on the stock in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price target on shares of Weyerhaeuser in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

Weyerhaeuser Stock Performance

Weyerhaeuser stock opened at $29.54 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17. The firm has a market capitalization of $21.44 billion, a P/E ratio of 53.71, a price-to-earnings-growth ratio of 4.74 and a beta of 1.43. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $35.30. The company’s 50-day moving average is $29.97 and its 200 day moving average is $30.66.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. Research analysts forecast that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were issued a $0.21 dividend. The ex-dividend date was Friday, March 7th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.84%. Weyerhaeuser’s dividend payout ratio is presently 152.73%.

About Weyerhaeuser

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.