Meridian Investment Counsel Inc. Acquires 6,880 Shares of Weyerhaeuser Company (WY)
Meridian Investment Counsel Inc. raised its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 8.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,832 shares of the real estate investment trust’s stock after buying an additional 6,880 shares during the period. Weyerhaeuser comprises approximately 1.8% of Meridian Investment Counsel Inc.’s investment portfolio, making the stock its 10th biggest position. Meridian Investment Counsel Inc.’s holdings in Weyerhaeuser were worth $2,942,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in WY. BlackRock Inc. raised its stake in shares of Weyerhaeuser by 3,527.2% during the first quarter. BlackRock Inc. now owns 54,673,687 shares of the real estate investment trust’s stock valued at $1,857,812,000 after acquiring an additional 53,166,351 shares in the last quarter. Vanguard Group Inc. raised its stake in Weyerhaeuser by 3.2% in the second quarter. Vanguard Group Inc. now owns 49,408,860 shares of the real estate investment trust’s stock worth $1,655,198,000 after buying an additional 1,535,736 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Weyerhaeuser by 3.3% in the second quarter. First Eagle Investment Management LLC now owns 36,761,190 shares of the real estate investment trust’s stock worth $1,231,500,000 after buying an additional 1,181,780 shares in the last quarter. State Street Corp raised its stake in Weyerhaeuser by 0.8% in the first quarter. State Street Corp now owns 31,327,712 shares of the real estate investment trust’s stock worth $1,064,520,000 after buying an additional 245,129 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Weyerhaeuser by 8.6% in the second quarter. American Century Companies Inc. now owns 16,124,028 shares of the real estate investment trust’s stock worth $540,155,000 after buying an additional 1,273,679 shares in the last quarter. Institutional investors and hedge funds own 75.23% of the company’s stock.
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Weyerhaeuser Company (WY) traded up 0.06% during midday trading on Friday, reaching $34.03. 2,804,657 shares of the company’s stock traded hands. Weyerhaeuser Company has a 1-year low of $28.58 and a 1-year high of $35.50. The company has a market capitalization of $25.62 billion, a PE ratio of 26.75 and a beta of 1.39. The firm’s 50 day moving average price is $32.38 and its 200-day moving average price is $33.26.
Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.01. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.81 billion. Weyerhaeuser had a net margin of 14.09% and a return on equity of 7.17%. Weyerhaeuser’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period last year, the firm posted $0.17 EPS. Equities analysts expect that Weyerhaeuser Company will post $1.05 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Friday, September 8th were issued a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Thursday, September 7th. Weyerhaeuser’s payout ratio is 97.64%.
A number of equities analysts recently commented on the stock. ValuEngine raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research lowered shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Bank of America Corporation lowered shares of Weyerhaeuser from a “buy” rating to a “neutral” rating and cut their price target for the stock from $36.00 to $35.00 in a report on Wednesday, July 5th. TheStreet lowered shares of Weyerhaeuser from a “b-” rating to a “c+” rating in a report on Friday, August 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and issued a $36.00 price target on shares of Weyerhaeuser in a report on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $37.25.
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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