DNB Asset Management AS lifted its stake in shares of Weyerhaeuser (NYSE:WY – Get Rating) by 7.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 159,649 shares of the real estate investment trust’s stock after purchasing an additional 11,166 shares during the period. DNB Asset Management AS’s holdings in Weyerhaeuser were worth $6,051,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Weyerhaeuser by 0.5% during the 4th quarter. BlackRock Inc. now owns 57,396,782 shares of the real estate investment trust’s stock worth $2,363,599,000 after purchasing an additional 269,617 shares during the last quarter. State Street Corp boosted its holdings in shares of Weyerhaeuser by 5.2% during the 4th quarter. State Street Corp now owns 31,466,169 shares of the real estate investment trust’s stock worth $1,295,777,000 after purchasing an additional 1,546,975 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Weyerhaeuser by 7.7% during the 4th quarter. JPMorgan Chase & Co. now owns 19,489,403 shares of the real estate investment trust’s stock worth $802,574,000 after purchasing an additional 1,393,739 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Weyerhaeuser by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 16,321,125 shares of the real estate investment trust’s stock worth $670,801,000 after purchasing an additional 372,177 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Weyerhaeuser during the 4th quarter worth approximately $580,040,000. Institutional investors and hedge funds own 82.38% of the company’s stock.
In other news, Director Albert Monaco purchased 3,000 shares of the firm’s stock in a transaction on Tuesday, June 7th. The shares were bought at an average cost of $38.43 per share, for a total transaction of $115,290.00. Following the completion of the purchase, the director now directly owns 27,246 shares of the company’s stock, valued at $1,047,063.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.22% of the stock is owned by corporate insiders.
Weyerhaeuser (NYSE:WY – Get Rating) last released its quarterly earnings results on Friday, April 29th. The real estate investment trust reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.24. Weyerhaeuser had a return on equity of 27.03% and a net margin of 24.96%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the prior year, the firm earned $0.91 earnings per share. The firm’s revenue was down 12.0% compared to the same quarter last year. As a group, equities research analysts forecast that Weyerhaeuser will post 3.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, June 2nd. Weyerhaeuser’s dividend payout ratio (DPR) is 20.06%.
Several research analysts have recently weighed in on the company. BMO Capital Markets cut Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $42.00 price objective on the stock. in a report on Monday, May 2nd. StockNews.com cut Weyerhaeuser from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 4th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $43.25.
Weyerhaeuser Company Profile (Get Rating)
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.
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