Ledyard National Bank Purchases 1,135 Shares of Weyerhaeuser Company (WY)
Ledyard National Bank boosted its stake in shares of Weyerhaeuser Company (NYSE:WY) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,873 shares of the real estate investment trust’s stock after buying an additional 1,135 shares during the period. Ledyard National Bank’s holdings in Weyerhaeuser were worth $6,093,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of Weyerhaeuser by 3,527.2% in the first quarter. BlackRock Inc. now owns 54,673,687 shares of the real estate investment trust’s stock valued at $1,857,812,000 after buying an additional 53,166,351 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Weyerhaeuser by 3.4% in the first quarter. Vanguard Group Inc. now owns 47,873,124 shares of the real estate investment trust’s stock valued at $1,626,729,000 after buying an additional 1,553,556 shares in the last quarter. First Eagle Investment Management LLC increased its stake in shares of Weyerhaeuser by 3.7% in the first quarter. First Eagle Investment Management LLC now owns 35,579,410 shares of the real estate investment trust’s stock valued at $1,208,988,000 after buying an additional 1,260,154 shares in the last quarter. State Street Corp increased its stake in shares of Weyerhaeuser by 0.8% in the first quarter. State Street Corp now owns 31,327,712 shares of the real estate investment trust’s stock valued at $1,064,520,000 after buying an additional 245,129 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Weyerhaeuser by 14.3% in the first quarter. American Century Companies Inc. now owns 14,850,349 shares of the real estate investment trust’s stock valued at $504,615,000 after buying an additional 1,858,252 shares in the last quarter. Hedge funds and other institutional investors own 76.21% of the company’s stock.
Weyerhaeuser Company (WY) traded down 0.25% during trading on Thursday, reaching $32.35. 503,305 shares of the company’s stock traded hands. Weyerhaeuser Company has a 12 month low of $28.58 and a 12 month high of $35.50. The firm’s 50 day moving average is $33.21 and its 200-day moving average is $33.34. The company has a market capitalization of $24.36 billion, a price-to-earnings ratio of 25.43 and a beta of 1.40.
Weyerhaeuser (NYSE:WY) last posted its earnings results on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Weyerhaeuser had a return on equity of 7.17% and a net margin of 14.09%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the prior year, the business earned $0.17 EPS. Weyerhaeuser’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts expect that Weyerhaeuser Company will post $1.05 EPS for the current fiscal year.
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Several analysts recently weighed in on WY shares. Zacks Investment Research downgraded shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Royal Bank Of Canada reissued a “buy” rating and set a $40.00 target price on shares of Weyerhaeuser in a research note on Tuesday, May 23rd. Goldman Sachs Group, Inc. (The) cut shares of Weyerhaeuser from a “conviction-buy” rating to a “buy” rating and set a $38.00 target price on the stock. in a research note on Monday, July 31st. BidaskClub raised shares of Weyerhaeuser from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, BMO Capital Markets reissued a “buy” rating and set a $36.00 target price on shares of Weyerhaeuser in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Weyerhaeuser presently has a consensus rating of “Buy” and an average target price of $37.13.
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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