Hsbc Holdings PLC Increases Position in Weyerhaeuser Company $WY

Hsbc Holdings PLC lifted its position in Weyerhaeuser Company (NYSE:WY) by 1.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,330,121 shares of the real estate investment trust’s stock after acquiring an additional 23,811 shares during the period. Hsbc Holdings PLC’s holdings in Weyerhaeuser were worth $32,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nordea Investment Management AB increased its holdings in shares of Weyerhaeuser by 2.1% in the fourth quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust’s stock valued at $56,310,000 after purchasing an additional 47,709 shares during the period. Cantor Fitzgerald Investment Advisors L.P. purchased a new position in shares of Weyerhaeuser in the fourth quarter worth about $7,870,000. Baugh & Associates LLC acquired a new stake in shares of Weyerhaeuser during the fourth quarter worth about $4,562,000. Bfsg LLC lifted its holdings in shares of Weyerhaeuser by 44.0% during the fourth quarter. Bfsg LLC now owns 274,190 shares of the real estate investment trust’s stock worth $6,496,000 after purchasing an additional 83,806 shares during the period. Finally, Blume Capital Management Inc. boosted its position in Weyerhaeuser by 35.8% in the fourth quarter. Blume Capital Management Inc. now owns 186,973 shares of the real estate investment trust’s stock valued at $4,429,000 after buying an additional 49,275 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 2.1%

Shares of WY opened at $23.98 on Tuesday. The company has a market capitalization of $17.29 billion, a price-to-earnings ratio of 44.42, a PEG ratio of 1.38 and a beta of 0.89. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The stock’s 50-day moving average price is $24.01 and its 200-day moving average price is $24.63. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same period in the previous year, the company posted $0.11 earnings per share. Weyerhaeuser’s revenue for the quarter was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that Weyerhaeuser Company will post 0.3 EPS for the current year.

Weyerhaeuser Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. DA Davidson restated a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Truist Financial dropped 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, July 15th. Weiss Ratings lowered shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 25th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $30.00 target price on shares of Weyerhaeuser in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.00.

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.