Madison Asset Management LLC Acquires New Position in Weyerhaeuser Company $WY

Madison Asset Management LLC bought a new position in Weyerhaeuser Company (NYSE:WY) in the second quarter, according to its most recent filing with the SEC. The firm bought 207,000 shares of the real estate investment trust’s stock, valued at approximately $4,956,000.

A number of other institutional investors also recently bought and sold shares of WY. Blume Capital Management Inc. raised its stake in Weyerhaeuser by 35.8% in the 4th quarter. Blume Capital Management Inc. now owns 186,973 shares of the real estate investment trust’s stock worth $4,429,000 after acquiring an additional 49,275 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in Weyerhaeuser during the 4th quarter worth about $6,614,000. Pacific Heights Asset Management LLC lifted its position in Weyerhaeuser by 71.4% during the 4th quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the real estate investment trust’s stock worth $14,214,000 after acquiring an additional 250,000 shares during the period. Swedbank AB grew its stake in Weyerhaeuser by 11.1% during the 4th quarter. Swedbank AB now owns 969,745 shares of the real estate investment trust’s stock valued at $22,973,000 after purchasing an additional 96,744 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Weyerhaeuser by 3.0% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,519,262 shares of the real estate investment trust’s stock valued at $36,158,000 after purchasing an additional 43,656 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. DA Davidson restated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Truist Financial reiterated 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. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. JPMorgan Chase & Co. raised their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $24.66 on Friday. The company has a market capitalization of $17.77 billion, a PE ratio of 37.94, a price-to-earnings-growth ratio of 1.29 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. The company’s fifty day moving average price is $24.34 and its 200 day moving average price is $24.46. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The company had revenue of $1.87 billion during 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 firm’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.12 earnings per share. On average, research analysts predict that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Announces Dividend

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

About Weyerhaeuser

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.