Whittier Trust Co. of Nevada Inc. Increases Stake in Weyerhaeuser Co. (WY)
Whittier Trust Co. of Nevada Inc. boosted its stake in Weyerhaeuser Co. (NYSE:WY) by 10.7% during the second quarter, Holdings Channel reports. The fund owned 11,681 shares of the real estate investment trust’s stock after buying an additional 1,132 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Weyerhaeuser were worth $348,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in WY. State Street Corp boosted its stake in Weyerhaeuser by 55.0% in the first quarter. State Street Corp now owns 33,117,766 shares of the real estate investment trust’s stock valued at $1,025,997,000 after buying an additional 11,754,704 shares during the last quarter. Geode Capital Management LLC boosted its stake in Weyerhaeuser by 52.3% in the first quarter. Geode Capital Management LLC now owns 7,310,636 shares of the real estate investment trust’s stock valued at $226,081,000 after buying an additional 2,509,165 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Weyerhaeuser by 307,400.0% in the first quarter. 1832 Asset Management L.P. now owns 1,537,500 shares of the real estate investment trust’s stock valued at $80,582,000 after buying an additional 1,537,000 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Weyerhaeuser during the first quarter valued at approximately $44,534,000. Finally, Canada Pension Plan Investment Board boosted its stake in Weyerhaeuser by 603.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,488,142 shares of the real estate investment trust’s stock valued at $46,103,000 after buying an additional 1,276,521 shares during the last quarter. 75.73% of the stock is owned by hedge funds and other institutional investors.
Weyerhaeuser Co. (NYSE:WY) traded up 0.306% during midday trading on Monday, hitting $31.095. 1,182,051 shares of the stock traded hands. The stock has a market cap of $23.28 billion, a PE ratio of 40.071 and a beta of 1.39. Weyerhaeuser Co. has a 1-year low of $22.06 and a 1-year high of $33.17. The company has a 50-day moving average of $31.24 and a 200-day moving average of $31.16.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company earned $1.41 billion during the quarter, compared to analyst estimates of $7.54 billion. Weyerhaeuser had a net margin of 7.24% and a return on equity of 8.35%. The firm’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.26 EPS. On average, equities analysts expect that Weyerhaeuser Co. will post $1.03 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were paid a $0.31 dividend. The ex-dividend date was Wednesday, September 7th. This represents a $1.24 annualized dividend and a yield of 4.00%. Weyerhaeuser’s dividend payout ratio is presently 158.98%.
Several analysts have commented on WY shares. Zacks Investment Research raised shares of Weyerhaeuser from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Tuesday, July 19th. Dundee Securities lowered shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a report on Friday, August 12th. DA Davidson upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Wednesday, June 29th. They noted that the move was a valuation call. Goldman Sachs Group Inc. started coverage on shares of Weyerhaeuser in a report on Thursday, September 22nd. They issued a “buy” rating and a $37.00 price target on the stock. Finally, Citigroup Inc. lifted their price target on shares of Weyerhaeuser from $36.00 to $37.00 and gave the company a “buy” rating in a report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $35.38.
In other news, VP Rhonda D. Hunter sold 3,318 shares of the stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $33.00, for a total transaction of $109,494.00. Following the transaction, the vice president now owns 61,768 shares in the company, valued at approximately $2,038,344. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Rick R. Holley sold 426,957 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $32.51, for a total transaction of $13,880,372.07. Following the transaction, the director now owns 696,488 shares in the company, valued at approximately $22,642,824.88. The disclosure for this sale can be found here. 1.30% of the stock is currently owned by company insiders.
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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