The Manufacturers Life Insurance Company Has $14.50 Million Holdings in Weyerhaeuser Company $WY

The Manufacturers Life Insurance Company lessened its stake in Weyerhaeuser Company (NYSE:WY) by 42.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 605,753 shares of the real estate investment trust’s stock after selling 438,885 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Weyerhaeuser worth $14,502,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its position in shares of Weyerhaeuser by 2,980.6% during the 2nd quarter. California State Teachers Retirement System now owns 25,524,804 shares of the real estate investment trust’s stock worth $611,064,000 after buying an additional 24,696,247 shares during the period. Norges Bank acquired a new stake in shares of Weyerhaeuser in the 4th quarter valued at approximately $549,531,000. Bank of New York Mellon Corp acquired a new stake in shares of Weyerhaeuser in the 2nd quarter valued at approximately $468,969,000. Wellington Management Group LLP boosted its stake in Weyerhaeuser by 14.3% during the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock worth $1,043,164,000 after acquiring an additional 5,437,685 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Weyerhaeuser by 10.6% during the 2nd quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust’s stock worth $1,225,232,000 after acquiring an additional 4,885,818 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

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

Weyerhaeuser Price Performance

Shares of WY opened at $22.07 on Friday. 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 stock has a 50 day simple moving average of $23.97 and a 200 day simple moving average of $24.12. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $27.75. The firm has a market capitalization of $15.90 billion, a PE ratio of 33.95, a P/E/G ratio of 2.10 and a beta of 0.87.

Weyerhaeuser (NYSE:WY) last announced its 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 the consensus estimate of $1.85 billion. During the same period last year, the company posted $0.12 EPS. The business’s quarterly revenue was down 8.3% on a year-over-year basis. Sell-side analysts predict that Weyerhaeuser Company will post 0.33 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.8%. Weyerhaeuser’s dividend payout ratio is currently 129.23%.

Weyerhaeuser Company Profile

Weyerhaeuser (NYSE: WY) is a timberland owner and forest products company. Founded in 1900, the company owns or manages millions of acres of timberlands in the United States and Canada and sustainably grows, harvests and replenishes trees for use in construction and other applications.

Weyerhaeuser’s products include lumber, oriented strand board, engineered wood products, structural panels and other building materials used in residential and commercial construction. The company also generates income from timber, logs, real estate and strategically managed natural-resource properties.

In addition to its forest products operations, Weyerhaeuser provides natural climate solutions, including carbon-storage opportunities associated with its timberlands.