Corient Private Wealth LP Buys 625,732 Shares of Weyerhaeuser Company $WY

Corient Private Wealth LP boosted its stake in shares of Weyerhaeuser Company (NYSE:WY) by 524.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 745,007 shares of the real estate investment trust’s stock after buying an additional 625,732 shares during the quarter. Corient Private Wealth LP’s holdings in Weyerhaeuser were worth $17,835,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of WY. First Eagle Investment Management LLC increased its position in Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after acquiring an additional 23,485,504 shares during the last quarter. Norges Bank bought a new stake in shares of Weyerhaeuser in the 4th quarter worth about $549,531,000. Bank of New York Mellon Corp bought a new stake in shares of Weyerhaeuser in the 2nd quarter worth about $468,969,000. Manning & Napier Advisors LLC purchased a new position in shares of Weyerhaeuser during the 1st quarter worth about $101,969,000. Finally, Freestone Grove Partners LP boosted its stake in shares of Weyerhaeuser by 124.5% during the 3rd quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after purchasing an additional 3,713,932 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Trading Down 0.1%

NYSE WY opened at $23.68 on Friday. The stock has a market cap of $17.07 billion, a PE ratio of 36.43, a PEG ratio of 1.24 and a beta of 0.89. Weyerhaeuser Company has a 12 month low of $21.16 and a 12 month high of $27.75. The company’s 50-day moving average price is $24.29 and its 200-day moving average price is $24.38. 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 (NYSE:WY) last announced 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 analyst estimates 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 last year, the business posted $0.12 EPS. Equities research analysts forecast that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be given a dividend of $0.21 per share. 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 3.5%. Weyerhaeuser’s dividend payout ratio (DPR) is 129.23%.

Analyst Upgrades and Downgrades

WY has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Citigroup dropped their target price on Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 target price on shares of Weyerhaeuser in a research note on Friday, July 17th. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Truist Financial reissued a “hold” rating and set a $28.00 price target (up from $27.00) on shares of Weyerhaeuser in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $29.00.

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.