Concert Wealth Management Inc. Acquires 479 Shares of Weyerhaeuser Co. (WY)
Concert Wealth Management Inc. raised its stake in shares of Weyerhaeuser Co. (NYSE:WY) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 61,796 shares of the real estate investment trust’s stock after buying an additional 479 shares during the period. Concert Wealth Management Inc.’s holdings in Weyerhaeuser were worth $1,842,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the stock. Franklin Resources Inc. raised its stake in Weyerhaeuser by 240.0% in the first quarter. Franklin Resources Inc. now owns 112,928 shares of the real estate investment trust’s stock valued at $3,499,000 after buying an additional 79,715 shares during the period. NN Investment Partners Holdings N.V. purchased a new stake in shares of Weyerhaeuser during the first quarter worth approximately $915,000. Bessemer Group Inc. raised its stake in shares of Weyerhaeuser by 46.1% in the first quarter. Bessemer Group Inc. now owns 15,776 shares of the real estate investment trust’s stock worth $488,000 after buying an additional 4,975 shares during the last quarter. Investec Asset Management LTD purchased a new stake in shares of Weyerhaeuser during the first quarter worth approximately $10,305,000. Finally, 1832 Asset Management L.P. raised its stake in shares of 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 worth $80,582,000 after buying an additional 1,537,000 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.
Shares of Weyerhaeuser Co. (NYSE:WY) traded up 0.91% during midday trading on Wednesday, reaching $31.99. The company’s stock had a trading volume of 832,504 shares. The company’s 50-day moving average price is $31.23 and its 200 day moving average price is $31.19. The company has a market capitalization of $23.95 billion, a P/E ratio of 41.22 and a beta of 1.39. Weyerhaeuser Co. has a 12-month low of $22.06 and a 12-month high of $33.17.
Weyerhaeuser (NYSE:WY) last announced its earnings results on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by $0.01. The business earned $1.41 billion during the quarter, compared to the consensus estimate of $7.54 billion. Weyerhaeuser had a return on equity of 8.35% and a net margin of 7.24%. Weyerhaeuser’s revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.26 earnings per share. On average, equities research analysts forecast that Weyerhaeuser Co. will post $1.03 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, October 28th will be paid a $0.31 dividend. The ex-dividend date of this dividend is Wednesday, October 26th. This represents a $1.24 dividend on an annualized basis and a yield of 3.91%. Weyerhaeuser’s dividend payout ratio is currently 158.98%.
A number of brokerages have recently commented on WY. Dundee Securities lowered Weyerhaeuser from a “buy” rating to a “neutral” rating in a research note on Friday, August 12th. Goldman Sachs Group Inc. began coverage on Weyerhaeuser in a research note on Thursday, September 22nd. They set a “buy” rating and a $37.00 price target on the stock. Zacks Investment Research raised Weyerhaeuser from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. DA Davidson raised Weyerhaeuser from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research note on Wednesday, June 29th. They noted that the move was a valuation call. Finally, Argus reissued a “buy” rating and set a $35.00 price target on shares of Weyerhaeuser in a research note on Tuesday, September 20th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $35.38.
In other news, SVP Denise M. Merle sold 15,049 shares of the company’s stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $31.12, for a total value of $468,324.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Rhonda D. Hunter sold 3,318 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $33.00, for a total value of $109,494.00. Following the completion of the transaction, the vice president now owns 61,768 shares of the company’s stock, valued at $2,038,344. The disclosure for this sale can be found here. 1.30% of the stock is 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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