Levin Capital Strategies L.P. Buys Shares of 94,000 Weyerhaeuser Company $WY

Levin Capital Strategies L.P. bought a new position in shares of Weyerhaeuser Company (NYSE:WY) in the second quarter, HoldingsChannel reports. The firm bought 94,000 shares of the real estate investment trust’s stock, valued at approximately $2,250,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Weyerhaeuser in the 4th quarter valued at approximately $6,614,000. Blume Capital Management Inc. grew its holdings in Weyerhaeuser by 35.8% during the 4th quarter. Blume Capital Management Inc. now owns 186,973 shares of the real estate investment trust’s stock valued at $4,429,000 after buying an additional 49,275 shares during the last quarter. Pacific Heights Asset Management LLC grew its holdings in Weyerhaeuser by 71.4% during the 4th quarter. Pacific Heights Asset Management LLC now owns 600,000 shares of the real estate investment trust’s stock valued at $14,214,000 after buying an additional 250,000 shares during the last quarter. Draper Asset Management LLC purchased a new position in Weyerhaeuser during the fourth quarter worth $1,215,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Weyerhaeuser by 3.0% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,519,262 shares of the real estate investment trust’s stock worth $36,158,000 after buying an additional 43,656 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on WY shares. Raymond James Financial raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target for the company in a report on Friday, July 10th. Royal Bank Of Canada reiterated an “outperform” rating and set a $30.00 price objective on shares of Weyerhaeuser in a research report on Friday, July 17th. Canadian Imperial Bank of Commerce set a $28.00 target price on shares of Weyerhaeuser in a research note on Thursday, April 23rd. DA Davidson restated a “buy” rating and issued a $31.00 target price on shares of Weyerhaeuser in a report on Tuesday, June 30th. Finally, Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and an average target price of $29.00.

Weyerhaeuser Stock Down 1.1%

WY stock opened at $24.55 on Friday. The company has a 50 day moving average price of $24.35 and a two-hundred day moving average price of $24.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.15 and a current ratio of 1.82. The stock has a market capitalization of $17.70 billion, a P/E ratio of 37.78, a PEG ratio of 1.33 and a beta of 0.89. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Weyerhaeuser had a return on equity of 1.49% and a net margin of 6.89%.The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the prior year, the company posted $0.12 EPS. The business’s revenue for the quarter was down 8.3% compared to the same quarter last year. As a group, sell-side analysts expect that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, September 4th. Weyerhaeuser’s dividend payout ratio is presently 129.23%.

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.