First Eagle Investment Management LLC Has $363.38 Million Position in Weyerhaeuser Company $WY

First Eagle Investment Management LLC lessened its holdings in Weyerhaeuser Company (NYSE:WY) by 1.8% during the second quarter, Holdings Channel reports. The fund owned 14,144,971 shares of the real estate investment trust’s stock after selling 258,120 shares during the period. First Eagle Investment Management LLC’s holdings in Weyerhaeuser were worth $363,384,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its position in shares of Weyerhaeuser by 86.5% in the second quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock valued at $348,111,000 after purchasing an additional 6,284,982 shares during the period. Nuveen LLC bought a new position in Weyerhaeuser in the 1st quarter valued at about $107,330,000. Millennium Management LLC lifted its position in Weyerhaeuser by 2,952.7% during the first quarter. Millennium Management LLC now owns 3,130,367 shares of the real estate investment trust’s stock worth $91,657,000 after acquiring an additional 3,027,823 shares during the last quarter. Clean Energy Transition LLP bought a new stake in shares of Weyerhaeuser during the first quarter worth approximately $55,429,000. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Weyerhaeuser in the first quarter valued at approximately $53,061,000. 82.99% of the stock is owned by institutional investors.

Weyerhaeuser Price Performance

WY stock opened at $22.82 on Friday. The company’s 50-day moving average price is $24.34 and its two-hundred day moving average price is $25.42. The firm has a market cap of $16.45 billion, a P/E ratio of 60.05, a P/E/G ratio of 244.04 and a beta of 1.04. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 12 month low of $22.28 and a 12 month high of $32.70.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.13. The business had revenue of $1.72 billion for the quarter, compared to analyst estimates of $1.71 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. On average, analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis purchased 4,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the purchase, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial dropped their price target on Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating for the company in a report on Monday, October 13th. DA Davidson dropped their target price on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a report on Monday. CIBC reduced their target price on shares of Weyerhaeuser from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Thursday, September 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Weyerhaeuser in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Weyerhaeuser from $32.00 to $31.00 and set an “overweight” rating for the company in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $31.00.

Weyerhaeuser Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.