Saudi Central Bank Raises Position in Weyerhaeuser Company $WY

Saudi Central Bank grew its stake in Weyerhaeuser Company (NYSE:WY) by 89.7% during the second quarter, Holdings Channel reports. The firm owned 50,473 shares of the real estate investment trust’s stock after purchasing an additional 23,865 shares during the period. Saudi Central Bank’s holdings in Weyerhaeuser were worth $1,208,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Essential Partners LLC grew its holdings in Weyerhaeuser by 120,800.0% during the first quarter. Essential Partners LLC now owns 1,209 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 1,208 shares in the last quarter. Nvwm LLC lifted its stake in Weyerhaeuser by 174.7% during the 2nd quarter. Nvwm LLC now owns 1,258 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 800 shares in the last quarter. Versant Capital Management Inc lifted its stake in Weyerhaeuser by 77.6% during the 2nd quarter. Versant Capital Management Inc now owns 1,412 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 617 shares in the last quarter. Compass Financial Management LLC purchased a new position in Weyerhaeuser during the 2nd quarter worth $35,000. Finally, Addison Advisors LLC boosted its holdings in Weyerhaeuser by 83.4% during the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 757 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 1.4%

Shares of NYSE:WY opened at $22.71 on Wednesday. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The company has a market capitalization of $16.37 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.23 and a beta of 0.87. The business has a fifty day moving average price of $24.05 and a two-hundred day moving average price of $24.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15.

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

Weyerhaeuser Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders 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 annualized dividend and a yield of 3.7%. Weyerhaeuser’s payout ratio is currently 129.23%.

Analysts Set New Price Targets

Several analysts have recently commented on WY shares. Royal Bank Of Canada reiterated an “outperform” rating and issued a $30.00 target price on shares of Weyerhaeuser in a report on Friday, July 17th. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. DA Davidson reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, June 30th. 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. Finally, Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Sunday, August 2nd. One equities 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $28.67.

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.