CIBC Bancorp USA Inc. Invests $7.17 Million in Weyerhaeuser Company $WY

CIBC Bancorp USA Inc. acquired a new stake in shares of Weyerhaeuser Company (NYSE:WY) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 289,309 shares of the real estate investment trust’s stock, valued at approximately $7,172,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Weyerhaeuser by 0.5% during the second quarter. Vanguard Group Inc. now owns 114,318,728 shares of the real estate investment trust’s stock valued at $2,936,848,000 after purchasing an additional 542,912 shares during the period. Wellington Management Group LLP increased its position in Weyerhaeuser by 6.3% in the third quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock worth $982,847,000 after buying an additional 2,343,724 shares in the last quarter. State Street Corp raised its stake in shares of Weyerhaeuser by 1.9% in the third quarter. State Street Corp now owns 32,468,597 shares of the real estate investment trust’s stock worth $804,897,000 after buying an additional 602,901 shares during the period. Norges Bank purchased a new position in shares of Weyerhaeuser during the 2nd quarter valued at about $600,502,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Weyerhaeuser by 10.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 14,950,516 shares of the real estate investment trust’s stock valued at $370,623,000 after buying an additional 1,400,050 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of WY stock opened at $22.49 on Friday. The stock’s 50-day moving average is $25.53 and its 200 day moving average is $24.27. Weyerhaeuser Company has a 1-year low of $21.16 and a 1-year high of $30.06. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.83. The company has a market cap of $16.21 billion, a P/E ratio of 51.11 and a beta of 1.03.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company earned $0.11 earnings per share. The business’s revenue for the quarter was down 9.8% on a year-over-year basis. Research analysts predict that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.7%. The ex-dividend date was Tuesday, March 10th. Weyerhaeuser’s payout ratio is presently 190.91%.

Insider Activity

In other news, Director James Calvin O’rourke bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, February 20th. The stock was purchased at an average price of $25.35 per share, with a total value of $101,400.00. Following the completion of the acquisition, the director directly owned 28,661 shares of the company’s stock, valued at $726,556.35. This trade represents a 16.22% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Beckwitt bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was purchased at an average price of $25.70 per share, for a total transaction of $514,000.00. Following the transaction, the director owned 24,066 shares of the company’s stock, valued at $618,496.20. The trade was a 491.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.27% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on WY shares. Wall Street Zen lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Truist Financial lifted their price target on shares of Weyerhaeuser from $28.00 to $29.00 and gave the company a “hold” rating in a report on Monday, February 2nd. New Street Research set a $28.00 price target on shares of Weyerhaeuser in a research report on Friday, December 12th. Citigroup increased their target price on Weyerhaeuser from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Finally, UBS Group reiterated a “buy” rating on shares of Weyerhaeuser in a research report on Monday, December 15th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Weyerhaeuser presently has an average rating of “Hold” and an average price target of $28.88.

Weyerhaeuser Company 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.