Weyerhaeuser Company $WY Shares Acquired by Allstate Corp

Allstate Corp increased its stake in Weyerhaeuser Company (NYSE:WY) by 86.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 53,799 shares of the real estate investment trust’s stock after buying an additional 24,878 shares during the period. Allstate Corp’s holdings in Weyerhaeuser were worth $1,274,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Weyerhaeuser in the fourth quarter worth approximately $39,000. Addison Advisors LLC lifted its position in Weyerhaeuser by 83.4% during the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 757 shares in the last quarter. Optiver Holding B.V. acquired a new position in Weyerhaeuser during the third quarter valued at approximately $42,000. Costello Asset Management INC lifted its position in Weyerhaeuser by 118.9% during the fourth quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 976 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Weyerhaeuser during the fourth quarter valued at approximately $43,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Trading Down 0.1%

Shares of Weyerhaeuser stock opened at $24.53 on Friday. The company’s fifty day simple moving average is $24.06 and its 200-day simple moving average is $24.22. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 1.39 and a beta of 0.90. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.86.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. Weyerhaeuser’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. As a group, sell-side analysts expect that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, June 5th. Weyerhaeuser’s dividend payout ratio (DPR) is 155.56%.

Analysts Set New Price Targets

WY has been the subject of a number of research reports. Canadian Imperial Bank of Commerce set a $28.00 price objective on shares of Weyerhaeuser in a report on Thursday, April 23rd. DA Davidson reissued a “buy” rating and issued a $31.00 price target on shares of Weyerhaeuser in a report on Monday, May 4th. Citigroup cut their price objective on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. JPMorgan Chase & Co. dropped their target price on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Finally, Weiss Ratings downgraded Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Weyerhaeuser presently has an average rating of “Moderate Buy” and an average price target of $28.88.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.