New York Life Investment Management LLC Buys 1,297 Shares of Weyerhaeuser Company $WY

New York Life Investment Management LLC increased its stake in shares of Weyerhaeuser Company (NYSE:WY) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 108,763 shares of the real estate investment trust’s stock after purchasing an additional 1,297 shares during the quarter. New York Life Investment Management LLC’s holdings in Weyerhaeuser were worth $2,794,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. GKV Capital Management Co. Inc. bought a new position in shares of Weyerhaeuser during the 1st quarter valued at approximately $29,000. Costello Asset Management INC bought a new position in shares of Weyerhaeuser during the 1st quarter valued at approximately $32,000. Marshall Investment Management LLC bought a new position in shares of Weyerhaeuser during the 1st quarter valued at approximately $36,000. Zions Bancorporation National Association UT bought a new position in shares of Weyerhaeuser during the 1st quarter valued at approximately $40,000. Finally, Private Wealth Asset Management LLC increased its position in shares of Weyerhaeuser by 135.2% during the 2nd quarter. Private Wealth Asset Management LLC now owns 1,404 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 807 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Analyst Ratings Changes

WY has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Weyerhaeuser in a research report on Wednesday, October 8th. Truist Financial reduced their price target on Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating on the stock in a report on Monday, October 13th. CIBC reduced their price target on Weyerhaeuser from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Thursday, September 11th. Wall Street Zen lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Weyerhaeuser from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and a consensus price target of $32.25.

Insider Buying and Selling

In other news, Director Sara Grootwassink Lewis acquired 4,000 shares of Weyerhaeuser stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the acquisition, the director directly owned 21,478 shares of the company’s stock, valued at $543,178.62. This trade represents a 22.89% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

Weyerhaeuser Stock Performance

WY stock opened at $23.47 on Friday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. The business’s fifty day simple moving average is $24.71 and its two-hundred day simple moving average is $25.53. Weyerhaeuser Company has a twelve month low of $22.97 and a twelve month high of $32.70. The firm has a market cap of $16.93 billion, a price-to-earnings ratio of 61.76, a PEG ratio of 244.04 and a beta of 1.05.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.13. The company had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.Weyerhaeuser’s quarterly revenue was up 12.1% on a year-over-year basis. During the same period last year, the business posted $0.05 EPS. Analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, August 29th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 221.05%.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.