Allstate Corp Makes New $611,000 Investment in Weyerhaeuser (NYSE:WY)

Allstate Corp acquired a new stake in shares of Weyerhaeuser (NYSE:WY) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 21,691 shares of the real estate investment trust’s stock, valued at approximately $611,000.

Several other institutional investors have also modified their holdings of WY. Wellington Management Group LLP boosted its stake in shares of Weyerhaeuser by 12.7% in the third 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 acquiring an additional 4,035,048 shares during the last quarter. State Street Corp boosted its stake in Weyerhaeuser by 2.5% during the 3rd quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust’s stock worth $1,063,463,000 after purchasing an additional 761,757 shares during the last quarter. Norges Bank purchased a new stake in shares of Weyerhaeuser during the fourth quarter worth $638,470,000. Geode Capital Management LLC raised its position in shares of Weyerhaeuser by 1.1% in the third quarter. Geode Capital Management LLC now owns 19,534,058 shares of the real estate investment trust’s stock valued at $659,422,000 after buying an additional 217,510 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its stake in shares of Weyerhaeuser by 1.1% in the fourth quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust’s stock worth $404,299,000 after buying an additional 158,800 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 0.6 %

Shares of WY opened at $29.11 on Wednesday. The company’s 50-day moving average price is $29.97 and its 200 day moving average price is $30.67. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $35.50. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50. The firm has a market cap of $21.13 billion, a P/E ratio of 52.92, a price-to-earnings-growth ratio of 4.74 and a beta of 1.43.

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

Weyerhaeuser Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.89%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s payout ratio is currently 152.73%.

Wall Street Analysts Forecast Growth

WY has been the subject of a number of recent research reports. Cibc World Mkts upgraded shares of Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. CIBC raised Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target for the company in a report on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and set a $36.00 price objective on shares of Weyerhaeuser in a research note on Monday, February 3rd. StockNews.com raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, Raymond James raised 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. Three 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 stock. According to MarketBeat, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.