Blume Capital Management Inc. Has $4.43 Million Stock Holdings in Weyerhaeuser Company $WY

Blume Capital Management Inc. lifted its stake in shares of Weyerhaeuser Company (NYSE:WY) by 35.8% during the fourth quarter, Holdings Channel reports. The firm owned 186,973 shares of the real estate investment trust’s stock after purchasing an additional 49,275 shares during the quarter. Blume Capital Management Inc.’s holdings in Weyerhaeuser were worth $4,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WY. Goldman Sachs Group Inc. raised its position in shares of Weyerhaeuser by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after purchasing an additional 346,571 shares during the period. Empowered Funds LLC raised its position in shares of Weyerhaeuser by 3.4% during the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock worth $1,348,000 after purchasing an additional 1,498 shares during the period. Intech Investment Management LLC raised its position in shares of Weyerhaeuser by 5.9% during the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock worth $1,647,000 after purchasing an additional 3,124 shares during the period. Gamco Investors INC. ET AL acquired a new stake in shares of Weyerhaeuser during the second quarter worth $275,000. Finally, Bank of Nova Scotia raised its position in shares of Weyerhaeuser by 10.2% during the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after purchasing an additional 8,500 shares during the period. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $22.68 on Monday. Weyerhaeuser Company has a 1-year low of $21.16 and a 1-year high of $27.86. The company has a current ratio of 1.42, a quick ratio of 0.80 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $16.36 billion, a price-to-earnings ratio of 42.01, a P/E/G ratio of 1.36 and a beta of 0.90. The stock’s fifty day simple moving average is $24.09 and its 200-day simple moving average is $24.18.

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

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be paid a $0.21 dividend. The ex-dividend date is Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. Weyerhaeuser’s payout ratio is 155.56%.

Insider Transactions at Weyerhaeuser

In other news, Director James Calvin O’rourke bought 4,000 shares of the stock in a transaction on Friday, February 20th. The shares were purchased at an average price of $25.35 per share, for a total transaction of $101,400.00. Following the completion of the purchase, 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 can be accessed through this link. Also, Director Richard Beckwitt bought 20,000 shares of the stock in a transaction 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 purchase, the director directly owned 24,066 shares of the company’s stock, valued at approximately $618,496.20. This represents a 491.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.31% of the company’s stock.

Wall Street Analysts Forecast Growth

WY has been the topic of a number of recent analyst reports. Wall Street Zen raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. DA Davidson reiterated a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Monday, May 4th. Truist Financial lowered their price target on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. JPMorgan Chase & Co. lowered their price target on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, Citigroup lowered their price target on Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.88.

About Weyerhaeuser

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.