Pictet Asset Management Holding SA Trims Holdings in Weyerhaeuser Company $WY

Pictet Asset Management Holding SA decreased its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 11.8% in the second quarter, HoldingsChannel reports. The firm owned 4,280,051 shares of the real estate investment trust’s stock after selling 570,173 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Weyerhaeuser were worth $102,464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of WY. Goldman Sachs Group Inc. raised its holdings in shares of Weyerhaeuser by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock valued at $65,878,000 after acquiring an additional 346,571 shares in the last quarter. Empowered Funds LLC boosted its holdings in Weyerhaeuser by 3.4% in the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock valued at $1,348,000 after acquiring an additional 1,498 shares in the last quarter. Intech Investment Management LLC increased its position in Weyerhaeuser by 5.9% during the 1st quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock valued at $1,647,000 after purchasing an additional 3,124 shares during the period. Gamco Investors INC. ET AL purchased a new position in Weyerhaeuser during the 2nd quarter valued at $275,000. Finally, Bank of Nova Scotia raised its holdings in Weyerhaeuser by 10.2% in the 2nd quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after purchasing an additional 8,500 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

WY has been the subject of several research analyst reports. Canadian Imperial Bank of Commerce set a $28.00 target price on shares of Weyerhaeuser in a research report on Thursday, April 23rd. Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research report on Friday, July 10th. DA Davidson reissued a “buy” rating and issued a $31.00 price target on shares of Weyerhaeuser in a research note on Tuesday, June 30th. JPMorgan Chase & Co. raised their price objective on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Weyerhaeuser in a research report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Weyerhaeuser has a consensus rating of “Moderate Buy” and an average target price of $29.00.

Weyerhaeuser Price Performance

WY 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. The company has a market cap of $17.70 billion, a price-to-earnings ratio of 37.78, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89. The stock has a fifty day simple moving average of $24.35 and a two-hundred day simple moving average of $24.53. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.75.

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

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 annualized dividend and a yield of 3.4%. Weyerhaeuser’s payout ratio is presently 129.23%.

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.