Putnam Investments LLC Grows Position in Weyerhaeuser (NYSE:WY)

Putnam Investments LLC raised its holdings in Weyerhaeuser (NYSE:WY) by 49.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 356,313 shares of the real estate investment trust’s stock after acquiring an additional 118,152 shares during the period. Putnam Investments LLC’s holdings in Weyerhaeuser were worth $10,736,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Weyerhaeuser by 2.5% during the 1st quarter. BlackRock Inc. now owns 60,389,476 shares of the real estate investment trust’s stock valued at $1,819,535,000 after buying an additional 1,484,895 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Weyerhaeuser by 15.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 46,308,945 shares of the real estate investment trust’s stock valued at $1,435,577,000 after buying an additional 6,333,675 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Weyerhaeuser by 2.0% during the 1st quarter. JPMorgan Chase & Co. now owns 20,617,729 shares of the real estate investment trust’s stock valued at $621,212,000 after buying an additional 401,373 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Weyerhaeuser by 4.7% during the 1st quarter. Geode Capital Management LLC now owns 17,447,456 shares of the real estate investment trust’s stock valued at $526,333,000 after buying an additional 784,256 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Weyerhaeuser during the 4th quarter valued at about $485,095,000. 79.54% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of WY stock opened at $32.55 on Friday. The firm has a market cap of $23.79 billion, a P/E ratio of 33.91 and a beta of 1.52. Weyerhaeuser has a fifty-two week low of $27.36 and a fifty-two week high of $36.00. The business’s 50 day moving average price is $33.23 and its 200-day moving average price is $31.24. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.42 and a current ratio of 1.74.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, July 27th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.11. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $2.01 billion. Weyerhaeuser had a return on equity of 8.32% and a net margin of 8.80%. The business’s quarterly revenue was down 36.7% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. On average, equities research analysts anticipate that Weyerhaeuser will post 1.19 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.19 dividend. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.33%. Weyerhaeuser’s dividend payout ratio is currently 79.17%.

Insider Transactions at Weyerhaeuser

In other news, SVP Denise M. Merle sold 7,500 shares of Weyerhaeuser stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.29, for a total value of $242,175.00. Following the sale, the senior vice president now directly owns 147,601 shares in the company, valued at approximately $4,766,036.29. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. SpectralCast reissued a “maintains” rating on shares of Weyerhaeuser in a report on Wednesday, June 28th. DA Davidson raised their price objective on Weyerhaeuser from $35.00 to $40.00 in a report on Friday, July 7th. Truist Financial lifted their price target on Weyerhaeuser from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Monday, July 31st. StockNews.com started coverage on Weyerhaeuser in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $40.00 price target on shares of Weyerhaeuser in a research note on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.29.

About Weyerhaeuser

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.