Arrowstreet Capital Limited Partnership Grows Stake in Weyerhaeuser Company $WY

Arrowstreet Capital Limited Partnership raised its stake in Weyerhaeuser Company (NYSE:WY) by 29.6% during the 4th quarter, HoldingsChannel reports. The firm owned 5,572,939 shares of the real estate investment trust’s stock after acquiring an additional 1,272,002 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Weyerhaeuser were worth $132,023,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. grew its stake in shares of Weyerhaeuser by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock valued at $65,878,000 after acquiring an additional 346,571 shares in the last quarter. Empowered Funds LLC grew its stake in Weyerhaeuser by 3.4% in the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock worth $1,348,000 after purchasing an additional 1,498 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Weyerhaeuser by 5.9% in the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock worth $1,647,000 after acquiring an additional 3,124 shares during the last quarter. Gamco Investors INC. ET AL bought a new position in Weyerhaeuser in the second quarter worth about $275,000. Finally, Bank of Nova Scotia lifted its holdings in Weyerhaeuser by 10.2% in the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after acquiring an additional 8,500 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Performance

Shares of Weyerhaeuser stock opened at $24.61 on Tuesday. The business has a fifty day simple moving average of $24.22 and a 200-day simple moving average of $24.43. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.75. The stock has a market cap of $17.74 billion, a PE ratio of 45.57, a price-to-earnings-growth ratio of 1.41 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. During the same period in the previous year, the company posted $0.11 EPS. Weyerhaeuser’s revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that Weyerhaeuser Company will post 0.32 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Friday, June 5th. Weyerhaeuser’s payout ratio is currently 155.56%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on WY. DA Davidson reaffirmed a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Monday, May 4th. Citigroup cut their price target on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings raised Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a report on Thursday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Weyerhaeuser has an average rating of “Moderate Buy” and an average target price of $28.88.

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.