Bank of Nova Scotia Acquires 35,487 Shares of Weyerhaeuser Company $WY

Bank of Nova Scotia grew its holdings in Weyerhaeuser Company (NYSE:WY) by 15.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 269,147 shares of the real estate investment trust’s stock after acquiring an additional 35,487 shares during the period. Bank of Nova Scotia’s holdings in Weyerhaeuser were worth $6,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WY. FNY Investment Advisers LLC bought a new position in Weyerhaeuser in the 4th quarter worth approximately $39,000. Addison Advisors LLC increased its holdings in shares of Weyerhaeuser by 83.4% in the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 757 shares during the last quarter. Bayban bought a new stake in shares of Weyerhaeuser in the fourth quarter worth about $41,000. Costello Asset Management INC lifted its position in shares of Weyerhaeuser by 118.9% in the fourth quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock worth $43,000 after buying an additional 976 shares in the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in shares of Weyerhaeuser in the fourth quarter worth about $43,000. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

NYSE:WY opened at $23.91 on Tuesday. The firm has a market capitalization of $17.24 billion, a PE ratio of 44.27, a PEG ratio of 1.35 and a beta of 0.89. The stock’s fifty day moving average is $24.07 and its 200 day moving average is $24.62. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.75. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42.

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

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.5%. Weyerhaeuser’s dividend payout ratio is currently 155.56%.

Analysts Set New Price Targets

Several analysts have recently issued reports on WY shares. Truist Financial decreased their price objective on Weyerhaeuser from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. JPMorgan Chase & Co. raised their target price on shares of Weyerhaeuser from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Monday, June 29th. Royal Bank Of Canada restated an “outperform” rating and issued a $30.00 price target on shares of Weyerhaeuser in a research report on Friday, July 17th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research note on Thursday, April 23rd. Finally, Citigroup lowered their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.00.

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.