Zurcher Kantonalbank Zurich Cantonalbank Buys 4,109 Shares of Weyerhaeuser (NYSE:WY)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Weyerhaeuser (NYSE:WY) by 3.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 136,466 shares of the real estate investment trust’s stock after acquiring an additional 4,109 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Weyerhaeuser were worth $4,745,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of WY. Norges Bank acquired a new stake in shares of Weyerhaeuser during the fourth quarter worth $485,095,000. Wellington Management Group LLP lifted its holdings in shares of Weyerhaeuser by 22.7% during the third quarter. Wellington Management Group LLP now owns 19,299,328 shares of the real estate investment trust’s stock worth $591,717,000 after buying an additional 3,573,013 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in shares of Weyerhaeuser by 376.3% during the third quarter. Jupiter Asset Management Ltd. now owns 2,068,432 shares of the real estate investment trust’s stock worth $63,418,000 after buying an additional 1,634,125 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Weyerhaeuser by 2.5% during the first quarter. BlackRock Inc. now owns 60,389,476 shares of the real estate investment trust’s stock worth $1,819,535,000 after buying an additional 1,484,895 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of Weyerhaeuser by 64.5% during the third quarter. FMR LLC now owns 3,169,142 shares of the real estate investment trust’s stock worth $97,166,000 after buying an additional 1,242,972 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Up 0.4 %

Shares of NYSE WY opened at $31.47 on Monday. The company has a current ratio of 2.94, a quick ratio of 2.22 and a debt-to-equity ratio of 0.50. The company has a market cap of $22.96 billion, a price-to-earnings ratio of 27.37 and a beta of 1.43. Weyerhaeuser has a 12 month low of $28.12 and a 12 month high of $36.27. The stock has a 50-day moving average price of $34.11 and a two-hundred day moving average price of $32.70.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Friday, January 26th. The real estate investment trust reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.82 billion. Weyerhaeuser had a return on equity of 7.36% and a net margin of 10.93%. The business’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.24 earnings per share. As a group, analysts forecast that Weyerhaeuser will post 1.03 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, March 7th. Weyerhaeuser’s dividend payout ratio is presently 69.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WY shares. Royal Bank of Canada reissued an “outperform” rating and set a $39.00 target price on shares of Weyerhaeuser in a report on Monday, January 29th. Truist Financial reaffirmed a “hold” rating and issued a $36.00 price target on shares of Weyerhaeuser in a research note on Wednesday, April 3rd. BMO Capital Markets boosted their price target on Weyerhaeuser from $36.00 to $38.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. CIBC set a $37.00 price target on Weyerhaeuser and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Finally, StockNews.com downgraded Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Weyerhaeuser currently has an average rating of “Hold” and an average price target of $38.00.

Insider Transactions at Weyerhaeuser

In related news, CFO David M. Wold sold 924 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the completion of the sale, the chief financial officer now directly owns 60,655 shares of the company’s stock, valued at approximately $1,991,910.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Weyerhaeuser news, CFO David M. Wold sold 924 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $32.84, for a total value of $30,344.16. Following the completion of the transaction, the chief financial officer now owns 60,655 shares in the company, valued at approximately $1,991,910.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Nicole Weyerhaeuser Piasecki sold 33,426 shares of the firm’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $33.64, for a total value of $1,124,450.64. Following the completion of the transaction, the director now owns 5,807 shares of the company’s stock, valued at approximately $195,347.48. The disclosure for this sale can be found here. Insiders have sold 42,699 shares of company stock valued at $1,455,609 over the last ninety days. 0.30% of the stock is owned by company insiders.

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.