Bleakley Financial Group LLC Raises Stock Position in Weyerhaeuser Company $WY

Bleakley Financial Group LLC grew its position in Weyerhaeuser Company (NYSE:WY) by 26.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,633 shares of the real estate investment trust’s stock after buying an additional 24,823 shares during the period. Bleakley Financial Group LLC’s holdings in Weyerhaeuser were worth $2,923,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Weyerhaeuser in the fourth quarter valued at approximately $39,000. Addison Advisors LLC raised its position in Weyerhaeuser by 83.4% in the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 757 shares during the period. Bayban acquired a new position in shares of Weyerhaeuser in the 4th quarter valued at $41,000. Costello Asset Management INC lifted its stake in shares of Weyerhaeuser by 118.9% in the 4th quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 976 shares during the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new position in shares of Weyerhaeuser during the 4th quarter worth $43,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a report on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a research report on Friday, July 10th. Truist Financial decreased their price objective on shares of Weyerhaeuser from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday. Finally, Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $29.00.

Weyerhaeuser Stock Performance

NYSE WY opened at $23.91 on Thursday. The company has a market cap of $17.24 billion, a P/E ratio of 44.29, a P/E/G ratio of 1.34 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80. The stock has a 50-day moving average of $23.96 and a two-hundred day moving average of $24.62. Weyerhaeuser Company has a 1-year low of $21.16 and a 1-year high of $27.75.

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

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a $0.21 dividend. The ex-dividend date was Friday, June 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. Weyerhaeuser’s payout ratio is 155.56%.

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.