Manning & Napier Advisors LLC Buys Shares of 2,136,055 Weyerhaeuser Company $WY

Manning & Napier Advisors LLC bought a new position in Weyerhaeuser Company (NYSE:WY) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,136,055 shares of the real estate investment trust’s stock, valued at approximately $52,590,000.

Several other large investors also recently made changes to their positions in the company. First Eagle Investment Management LLC boosted its position in shares of Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after buying an additional 23,485,504 shares during the period. Norges Bank bought a new position in Weyerhaeuser in the 4th quarter worth approximately $549,531,000. Bank of New York Mellon Corp acquired a new stake in Weyerhaeuser in the 2nd quarter valued at approximately $468,969,000. Freestone Grove Partners LP increased its position in Weyerhaeuser by 124.5% in the 3rd quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock valued at $166,030,000 after acquiring an additional 3,713,932 shares during the period. Finally, Wellington Management Group LLP raised its stake in Weyerhaeuser by 6.3% during the 3rd quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock valued at $982,847,000 after acquiring an additional 2,343,724 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WY. JPMorgan Chase & Co. increased their price target on Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Monday, June 29th. Royal Bank Of Canada restated an “outperform” rating and set a $30.00 price objective on shares of Weyerhaeuser in a research note on Friday, July 17th. DA Davidson reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a report on Tuesday, June 30th. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Friday, July 10th. Finally, Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.00.

Weyerhaeuser Trading Down 0.2%

Shares of WY stock opened at $24.39 on Tuesday. The stock has a 50-day simple moving average of $24.33 and a 200 day simple moving average of $24.44. The stock has a market capitalization of $17.58 billion, a P/E ratio of 37.53, a P/E/G ratio of 1.28 and a beta of 0.89. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the business earned $0.12 earnings per share. Weyerhaeuser’s revenue for the quarter was down 8.3% compared to the same quarter last year. On average, sell-side analysts expect that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Friday, September 4th. Weyerhaeuser’s payout ratio is presently 129.23%.

Weyerhaeuser 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.