Pekin Hardy Strauss Inc. Has $8.59 Million Holdings in Weyerhaeuser Company $WY

Pekin Hardy Strauss Inc. lifted its stake in shares of Weyerhaeuser Company (NYSE:WY) by 7.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 358,651 shares of the real estate investment trust’s stock after acquiring an additional 23,815 shares during the period. Weyerhaeuser makes up about 0.8% of Pekin Hardy Strauss Inc.’s investment portfolio, making the stock its 22nd largest holding. Pekin Hardy Strauss Inc.’s holdings in Weyerhaeuser were worth $8,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Weyerhaeuser by 4.4% in the 4th quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock valued at $980,250,000 after acquiring an additional 1,731,315 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Weyerhaeuser by 166.1% in the 4th 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 purchasing an additional 23,485,504 shares during the period. State Street Corp increased its holdings in Weyerhaeuser by 1.7% during the 4th quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock worth $782,513,000 after purchasing an additional 562,781 shares in the last quarter. Norges Bank bought a new position in Weyerhaeuser during the 4th quarter worth about $549,531,000. Finally, Geode Capital Management LLC raised its stake in shares of Weyerhaeuser by 1.1% in the 4th 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 purchasing an additional 225,227 shares during the period. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 1.1%

Shares of WY stock opened at $24.55 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The firm’s fifty day moving average price is $24.35 and its two-hundred day moving average price is $24.53. The firm has a market capitalization of $17.70 billion, a P/E ratio of 37.78, a PEG ratio of 1.33 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. During the same period in the previous year, the firm posted $0.12 EPS. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. On average, equities analysts predict that Weyerhaeuser Company will post 0.32 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. Weyerhaeuser’s payout ratio is currently 129.23%.

Analysts Set New Price Targets

A number of brokerages have recently commented on WY. Citigroup cut their price target on Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating on the stock in a report on Tuesday, August 4th. Weiss Ratings upgraded Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Truist Financial reissued a “hold” rating and issued a $28.00 target price (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. Canadian Imperial Bank of Commerce set a $28.00 target price on Weyerhaeuser in a research note on Thursday, April 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a research note on Monday, June 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Weyerhaeuser has a consensus rating of “Moderate Buy” and an average target price of $29.00.

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.