Louisiana State Employees Retirement System Buys New Shares in Weyerhaeuser Company $WY

Louisiana State Employees Retirement System purchased a new stake in shares of Weyerhaeuser Company (NYSE:WY) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 36,700 shares of the real estate investment trust’s stock, valued at approximately $897,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Wellington Management Group LLP raised its stake in Weyerhaeuser by 4.4% during the 4th quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock worth $980,250,000 after acquiring an additional 1,731,315 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Weyerhaeuser by 166.1% in 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 in the last quarter. State Street Corp boosted its position in shares of Weyerhaeuser by 1.7% during the fourth quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock worth $782,513,000 after acquiring an additional 562,781 shares during the last quarter. Norges Bank bought a new position in shares of Weyerhaeuser during the fourth quarter worth $549,531,000. Finally, Geode Capital Management LLC grew its stake in Weyerhaeuser by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock valued at $479,155,000 after acquiring an additional 225,227 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $23.75 on Monday. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $27.75. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The firm’s fifty day moving average is $24.16 and its 200 day moving average is $24.64. The company has a market cap of $17.13 billion, a price-to-earnings ratio of 43.99, a PEG ratio of 1.37 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, topping 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 business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the company posted $0.11 EPS. The business’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Weyerhaeuser Company will post 0.31 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 22nd. Investors 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 dividend yield of 3.5%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 155.56%.

Wall Street Analyst Weigh In

WY has been the topic of a number of research reports. Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. DA Davidson restated a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $28.00 target price on Weyerhaeuser in a report on Thursday, April 23rd. JPMorgan Chase & Co. increased their price target on Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. Finally, Truist Financial cut their price target on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.00.

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.