MMCAP International Inc. SPC Invests $7.76 Million in Weyerhaeuser Company $WY

MMCAP International Inc. SPC bought a new position in Weyerhaeuser Company (NYSE:WY) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 327,500 shares of the real estate investment trust’s stock, valued at approximately $7,758,000.

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

Weyerhaeuser Trading Up 0.8%

Shares of WY opened at $23.84 on Wednesday. The company’s fifty day moving average is $24.02 and its 200 day moving average is $24.20. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.86. The stock has a market capitalization of $17.19 billion, a PE ratio of 44.15, a P/E/G ratio of 1.34 and a beta of 0.90. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42.

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

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be given a dividend of $0.21 per share. The ex-dividend date is Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Weyerhaeuser’s payout ratio is 155.56%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WY shares. DA Davidson reissued a “buy” rating and issued a $31.00 target price on shares of Weyerhaeuser in a report on Monday, May 4th. JPMorgan Chase & Co. reduced their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a research report on Thursday, May 14th. Citigroup reduced their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, May 5th. Truist Financial reduced their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, April 15th. Finally, Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.88.

About Weyerhaeuser

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.