California Public Employees Retirement System Cuts Stock Position in Weyerhaeuser Company $WY

California Public Employees Retirement System trimmed its position in shares of Weyerhaeuser Company (NYSE:WY) by 21.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,081,017 shares of the real estate investment trust’s stock after selling 289,675 shares during the quarter. California Public Employees Retirement System owned 0.15% of Weyerhaeuser worth $26,409,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WY. Barings LLC grew its stake in shares of Weyerhaeuser by 48.3% in the first quarter. Barings LLC now owns 154,951 shares of the real estate investment trust’s stock worth $3,785,000 after acquiring an additional 50,494 shares in the last quarter. Bessemer Group Inc. raised its position in Weyerhaeuser by 137.9% in the 1st quarter. Bessemer Group Inc. now owns 17,128 shares of the real estate investment trust’s stock valued at $419,000 after purchasing an additional 9,929 shares in the last quarter. Independent Financial Group LLC purchased a new position in shares of Weyerhaeuser in the 1st quarter valued at about $847,000. Bank of New York Mellon Corp boosted its stake in shares of Weyerhaeuser by 16.9% in the 1st quarter. Bank of New York Mellon Corp now owns 17,717,871 shares of the real estate investment trust’s stock valued at $432,848,000 after buying an additional 2,555,687 shares during the period. Finally, Illinois Municipal Retirement Fund grew its position in shares of Weyerhaeuser by 25.0% during the first quarter. Illinois Municipal Retirement Fund now owns 334,326 shares of the real estate investment trust’s stock worth $8,168,000 after buying an additional 66,770 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WY has been the topic of several analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $31.00 target price on shares of Weyerhaeuser in a report on Tuesday, June 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $30.00 price objective on shares of Weyerhaeuser in a research report on Friday, July 17th. Raymond James Financial raised shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Friday, July 10th. Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Citigroup dropped their price objective on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Weyerhaeuser Trading Up 0.9%

WY opened at $23.82 on Thursday. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The business’s 50 day moving average is $24.02 and its two-hundred day moving average is $24.63. The firm has a market cap of $17.17 billion, a price-to-earnings ratio of 44.10, a price-to-earnings-growth ratio of 1.33 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period last year, the firm posted $0.11 earnings per share. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts predict that Weyerhaeuser Company will post 0.3 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 155.56%.

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.