Bowen Hanes & Co. Inc. Grows Stake in Weyerhaeuser (NYSE:WY)

Bowen Hanes & Co. Inc. grew its holdings in Weyerhaeuser (NYSE:WY) by 19.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 975,758 shares of the real estate investment trust’s stock after acquiring an additional 160,000 shares during the quarter. Bowen Hanes & Co. Inc. owned about 0.13% of Weyerhaeuser worth $27,468,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Wellington Management Group LLP grew its stake in Weyerhaeuser by 12.7% during 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 buying an additional 4,035,048 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Weyerhaeuser by 257.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock worth $151,437,000 after acquiring an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. lifted its position in 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 worth $137,417,000 after acquiring an additional 2,685,634 shares during the period. Point72 Asset Management L.P. acquired a new stake in Weyerhaeuser during the 3rd quarter worth approximately $40,773,000. Finally, Raymond James Financial Inc. acquired a new stake in Weyerhaeuser during the 4th quarter worth approximately $26,206,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on WY shares. CIBC raised Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective for the company in a research report on Wednesday, January 15th. StockNews.com raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. Citigroup decreased their price objective on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Cibc World Mkts raised Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Truist Financial reduced their price target on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Weyerhaeuser presently has an average rating of “Moderate Buy” and an average target price of $35.00.

Weyerhaeuser Trading Down 1.1 %

NYSE:WY opened at $29.26 on Thursday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The business’s 50-day simple moving average is $29.79 and its 200 day simple moving average is $30.79. The stock has a market cap of $21.23 billion, a price-to-earnings ratio of 53.19, a price-to-earnings-growth ratio of 4.74 and a beta of 1.43.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. As a group, sell-side analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.87%. Weyerhaeuser’s dividend payout ratio is 152.73%.

Weyerhaeuser Company Profile

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.