State of Tennessee Treasury Department raised its position in Weyerhaeuser Company (NYSE:WY) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 260,487 shares of the real estate investment trust’s stock after acquiring an additional 744 shares during the quarter. State of Tennessee Treasury Department’s holdings in Weyerhaeuser were worth $8,727,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in WY. Barnett & Company Inc. bought a new position in Weyerhaeuser during the second quarter worth about $101,000. First Personal Financial Services increased its position in Weyerhaeuser by 90.7% during the first quarter. First Personal Financial Services now owns 3,195 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 1,520 shares during the period. Dupont Capital Management Corp bought a new position in Weyerhaeuser in the 2nd quarter valued at about $109,000. Alexandria Capital LLC increased its holdings in Weyerhaeuser by 0.3% in the 2nd quarter. Alexandria Capital LLC now owns 3,486 shares of the real estate investment trust’s stock valued at $117,000 after buying an additional 12 shares during the period. Finally, Gemmer Asset Management LLC increased its holdings in Weyerhaeuser by 0.5% in the 2nd quarter. Gemmer Asset Management LLC now owns 4,146 shares of the real estate investment trust’s stock valued at $139,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 75.27% of the company’s stock.
Weyerhaeuser Company (NYSE:WY) traded down 0.03% on Friday, reaching $33.05. 1,559,900 shares of the company’s stock traded hands. The firm has a market cap of $24.88 billion, a PE ratio of 25.98 and a beta of 1.39. Weyerhaeuser Company has a 12 month low of $28.58 and a 12 month high of $35.50. The firm’s 50-day moving average is $32.40 and its 200 day moving average is $33.28.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Weyerhaeuser had a return on equity of 7.17% and a net margin of 14.09%. The firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year. Equities analysts predict that Weyerhaeuser Company will post $1.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Thursday, September 7th. Weyerhaeuser’s payout ratio is 97.64%.
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Several equities analysts have commented on the stock. BMO Capital Markets reissued a “buy” rating and issued a $36.00 target price on shares of Weyerhaeuser in a report on Friday, June 23rd. BidaskClub raised shares of Weyerhaeuser from a “hold” rating to a “buy” rating in a report on Tuesday, June 20th. Bank of America Corporation downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating and reduced their price target for the company from $36.00 to $35.00 in a research note on Wednesday, July 5th. Zacks Investment Research downgraded shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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