Engineers Gate Manager LP Purchases 1,010,372 Shares of Weyerhaeuser Company $WY

Engineers Gate Manager LP increased its position in Weyerhaeuser Company (NYSE:WY) by 67.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,518,585 shares of the real estate investment trust’s stock after buying an additional 1,010,372 shares during the period. Weyerhaeuser comprises approximately 0.7% of Engineers Gate Manager LP’s holdings, making the stock its 19th largest position. Engineers Gate Manager LP owned 0.35% of Weyerhaeuser worth $59,665,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Capitolis Liquid Global Markets LLC purchased a new stake in Weyerhaeuser in the 4th quarter worth $5,543,000. Bamco Inc. NY purchased a new stake in Weyerhaeuser in the 4th quarter worth $8,975,000. Banco Bilbao Vizcaya Argentaria S.A. lifted its stake in Weyerhaeuser by 6.1% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 24,022 shares of the real estate investment trust’s stock worth $569,000 after purchasing an additional 1,384 shares in the last quarter. Armistice Capital LLC purchased a new stake in Weyerhaeuser in the 4th quarter worth $401,000. Finally, Auxier Asset Management LLC lifted its stake in Weyerhaeuser by 57.5% in the 4th quarter. Auxier Asset Management LLC now owns 15,344 shares of the real estate investment trust’s stock worth $363,000 after purchasing an additional 5,599 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 1.9%

Shares of NYSE WY opened at $24.31 on Thursday. The firm’s 50-day moving average price is $24.23 and its 200-day moving average price is $24.46. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $17.53 billion, a price-to-earnings ratio of 45.02, a P/E/G ratio of 1.41 and a beta of 0.89. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.75.

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

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Stockholders of record on Friday, June 5th will be given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, June 5th. Weyerhaeuser’s dividend payout ratio is currently 155.56%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. DA Davidson reiterated a “buy” rating and issued a $31.00 price target on shares of Weyerhaeuser in a research note on Monday, May 4th. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, June 11th. Truist Financial decreased their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, April 15th. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research note on Thursday, April 23rd. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.88.

Weyerhaeuser Company Profile

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.