Federated Hermes Inc. Acquires 838,229 Shares of Weyerhaeuser Company $WY

Federated Hermes Inc. boosted its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 40.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,904,893 shares of the real estate investment trust’s stock after buying an additional 838,229 shares during the quarter. Federated Hermes Inc. owned about 0.40% of Weyerhaeuser worth $72,012,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WY. Norges Bank acquired a new position in shares of Weyerhaeuser during the 2nd quarter valued at about $600,502,000. Bank of New York Mellon Corp boosted its position in Weyerhaeuser by 86.5% during the second quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock worth $348,111,000 after purchasing an additional 6,284,982 shares during the period. Engineers Gate Manager LP grew its holdings in Weyerhaeuser by 1,493.1% during the second quarter. Engineers Gate Manager LP now owns 1,541,909 shares of the real estate investment trust’s stock valued at $39,612,000 after purchasing an additional 1,445,123 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Weyerhaeuser by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 13,306,064 shares of the real estate investment trust’s stock valued at $341,833,000 after purchasing an additional 1,374,109 shares during the last quarter. Finally, Cambiar Investors LLC bought a new position in shares of Weyerhaeuser in the second quarter valued at approximately $32,721,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 0.7%

Shares of WY opened at $26.05 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 1.23. The company has a 50-day simple moving average of $23.96 and a 200-day simple moving average of $24.42. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $31.66. The firm has a market capitalization of $18.77 billion, a P/E ratio of 57.88, a P/E/G ratio of 97.42 and a beta of 1.04.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.13. The firm had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Weyerhaeuser had a return on equity of 3.04% and a net margin of 4.68%.The company’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.05 earnings per share. On average, equities research analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, November 28th. Weyerhaeuser’s payout ratio is 186.67%.

Analyst Ratings Changes

WY has been the subject of several recent analyst reports. Zacks Research raised shares of Weyerhaeuser from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. Bank of America restated a “neutral” rating and set a $26.00 price target (down from $29.00) on shares of Weyerhaeuser in a report on Monday, November 17th. CIBC reaffirmed an “outperform” rating on shares of Weyerhaeuser in a research report on Friday, December 12th. Citigroup lifted their price objective on Weyerhaeuser from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Finally, Royal Bank Of Canada decreased their target price on Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday, November 3rd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.50.

Insiders Place Their Bets

In other Weyerhaeuser news, Director Sara Grootwassink Lewis purchased 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average price of $23.61 per share, with a total value of $106,245.00. Following the completion of the transaction, the director directly owned 25,978 shares of the company’s stock, valued at approximately $613,340.58. This trade represents a 20.95% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Devin W. Stockfish sold 90,162 shares of the firm’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $23.33, for a total transaction of $2,103,479.46. Following the transaction, the chief executive officer owned 1,024,861 shares of the company’s stock, valued at approximately $23,910,007.13. This represents a 8.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.27% of the company’s stock.

Weyerhaeuser Profile

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.