Norges Bank Purchases Shares of 23,196,766 Weyerhaeuser Company $WY

Norges Bank purchased a new stake in shares of Weyerhaeuser Company (NYSE:WY) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 23,196,766 shares of the real estate investment trust’s stock, valued at approximately $549,531,000.

Other hedge funds have also recently bought and sold shares of the company. Allianz Asset Management GmbH boosted its holdings in Weyerhaeuser by 27.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,881,226 shares of the real estate investment trust’s stock worth $46,636,000 after acquiring an additional 405,575 shares during the last quarter. Citigroup Inc. boosted its holdings in Weyerhaeuser by 68.5% during the 3rd quarter. Citigroup Inc. now owns 1,647,285 shares of the real estate investment trust’s stock worth $40,836,000 after acquiring an additional 669,451 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Weyerhaeuser by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 3,675,994 shares of the real estate investment trust’s stock worth $91,128,000 after buying an additional 97,769 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Weyerhaeuser by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust’s stock worth $56,310,000 after buying an additional 47,709 shares during the last quarter. Finally, Cambria Investment Management L.P. purchased a new position in shares of Weyerhaeuser in the 3rd quarter worth approximately $1,265,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WY has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce set a $28.00 target price on Weyerhaeuser in a research note on Thursday, April 23rd. Weiss Ratings downgraded Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. DA Davidson reissued a “buy” rating and issued a $31.00 price target on shares of Weyerhaeuser in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. cut their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, May 14th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.88.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $24.53 on Monday. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.86. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The business’s 50 day simple moving average is $24.06 and its 200 day simple moving average is $24.23. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 45.43, a PEG ratio of 1.39 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter in the prior year, the business earned $0.11 earnings per share. Weyerhaeuser’s revenue for the quarter was down 2.0% on a year-over-year basis. Sell-side analysts forecast that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be issued a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.84 annualized dividend and a yield of 3.4%. Weyerhaeuser’s dividend payout ratio is 155.56%.

Weyerhaeuser 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.