Gulf International Bank UK Ltd Continues to Hold Position in Weyerhaeuser Co. (WY)
Gulf International Bank UK Ltd maintained its stake in Weyerhaeuser Co. (NYSE:WY) during the third quarter, Holdings Channel reports. The institutional investor owned 236,255 shares of the real estate investment trust’s stock at the end of the third quarter. Gulf International Bank UK Ltd’s holdings in Weyerhaeuser were worth $7,545,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the company. Capital World Investors increased its stake in Weyerhaeuser by 37.0% in the second quarter. Capital World Investors now owns 22,619,766 shares of the real estate investment trust’s stock valued at $673,390,000 after buying an additional 6,112,230 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Weyerhaeuser by 253.5% in the second quarter. 1832 Asset Management L.P. now owns 5,435,470 shares of the real estate investment trust’s stock valued at $162,871,000 after buying an additional 3,897,970 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Weyerhaeuser by 41,014.9% in the second quarter. Point72 Asset Management L.P. now owns 1,693,521 shares of the real estate investment trust’s stock valued at $50,416,000 after buying an additional 1,689,402 shares in the last quarter. Bank of Montreal Can acquired a new stake in Weyerhaeuser during the second quarter valued at approximately $35,119,000. Finally, First Eagle Investment Management LLC increased its stake in Weyerhaeuser by 2.9% in the second quarter. First Eagle Investment Management LLC now owns 37,142,044 shares of the real estate investment trust’s stock valued at $1,105,719,000 after buying an additional 1,046,922 shares in the last quarter. 76.00% of the stock is owned by institutional investors.
Shares of Weyerhaeuser Co. (NYSE:WY) traded down 1.16% during trading on Wednesday, hitting $30.80. 3,103,191 shares of the stock were exchanged. Weyerhaeuser Co. has a 1-year low of $22.06 and a 1-year high of $33.17. The firm’s 50-day moving average is $30.53 and its 200 day moving average is $30.93. The company has a market cap of $23.04 billion, a P/E ratio of 40.00 and a beta of 1.39.
Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Friday, October 28th. The real estate investment trust reported $0.30 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.08. Weyerhaeuser had a return on equity of 7.05% and a net margin of 7.88%. The company earned $1.66 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the firm posted $0.35 EPS. The firm’s revenue was up 26.1% compared to the same quarter last year. Equities analysts forecast that Weyerhaeuser Co. will post $1.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Friday, October 28th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, October 26th. This represents a $1.24 dividend on an annualized basis and a yield of 3.98%. Weyerhaeuser’s dividend payout ratio is currently 169.86%.
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Several analysts have commented on WY shares. Dundee Securities downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a research report on Friday, August 12th. Goldman Sachs Group Inc. initiated coverage on shares of Weyerhaeuser in a report on Thursday, September 22nd. They set a “buy” rating and a $37.00 price objective for the company. Citigroup Inc. upped their price objective on shares of Weyerhaeuser from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, August 8th. DA Davidson downgraded shares of Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a report on Monday, August 8th. Finally, Zacks Investment Research downgraded shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Tuesday, November 1st. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $35.50.
In other Weyerhaeuser news, SVP Denise M. Merle sold 15,049 shares of Weyerhaeuser stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $31.12, for a total transaction of $468,324.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.30% of the company’s stock.
Weyerhaeuser Company Profile
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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