Bowen Hanes & Co. Inc. Buys 98,300 Shares of Weyerhaeuser Company $WY

Bowen Hanes & Co. Inc. boosted its position in Weyerhaeuser Company (NYSE:WY) by 9.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,129,260 shares of the real estate investment trust’s stock after buying an additional 98,300 shares during the period. Bowen Hanes & Co. Inc. owned approximately 0.16% of Weyerhaeuser worth $27,994,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in Weyerhaeuser by 27.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 1,881,226 shares of the real estate investment trust’s stock valued at $46,636,000 after buying an additional 405,575 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Weyerhaeuser by 2.0% in the third quarter. Nordea Investment Management AB now owns 2,322,728 shares of the real estate investment trust’s stock valued at $57,278,000 after acquiring an additional 46,207 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Weyerhaeuser by 2.7% during the third quarter. Principal Financial Group Inc. now owns 3,675,994 shares of the real estate investment trust’s stock valued at $91,128,000 after acquiring an additional 97,769 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Weyerhaeuser by 40.6% during the third quarter. Federated Hermes Inc. now owns 2,904,893 shares of the real estate investment trust’s stock worth $72,012,000 after acquiring an additional 838,229 shares during the period. Finally, Intact Investment Management Inc. purchased a new position in Weyerhaeuser in the third quarter worth $3,406,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America restated a “neutral” rating and set a $26.00 price objective (down previously from $29.00) on shares of Weyerhaeuser in a report on Monday, November 17th. Royal Bank Of Canada lowered their price objective on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. Citigroup increased their target price on shares of Weyerhaeuser from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Weyerhaeuser in a report on Friday, December 12th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $28.88.

Weyerhaeuser Price Performance

WY opened at $25.29 on Friday. The firm has a 50-day moving average price of $25.42 and a 200-day moving average price of $24.52. Weyerhaeuser Company has a twelve month low of $21.16 and a twelve month high of $31.66. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $18.22 billion, a price-to-earnings ratio of 57.47 and a beta of 1.03.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The company had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.58 billion. During the same period in the prior year, the company posted $0.11 EPS. Weyerhaeuser’s revenue was down 9.8% compared to the same quarter last year. Equities analysts expect that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, March 10th. Weyerhaeuser’s payout ratio is presently 190.91%.

Insider Buying and Selling

In related news, Director Sara Grootwassink Lewis bought 4,500 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average price of $23.61 per share, for a total transaction of $106,245.00. Following the purchase, the director directly owned 25,978 shares in the company, valued at $613,340.58. This trade represents a 20.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Devin W. Stockfish sold 90,162 shares of Weyerhaeuser stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $23.33, for a total value of $2,103,479.46. Following the transaction, the chief executive officer directly owned 1,024,861 shares of the company’s stock, valued at $23,910,007.13. The trade was a 8.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders acquired 28,500 shares of company stock worth $721,645. Company 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.