Lombard Odier Asset Management Europe Ltd Buys Shares of 191,531 Weyerhaeuser Company $WY

Lombard Odier Asset Management Europe Ltd purchased a new position in Weyerhaeuser Company (NYSE:WY) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 191,531 shares of the real estate investment trust’s stock, valued at approximately $4,585,000.

Other large investors also recently modified their holdings of the company. First Eagle Investment Management LLC raised its position in shares of Weyerhaeuser by 166.1% during the fourth quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock worth $891,242,000 after purchasing an additional 23,485,504 shares during the period. Norges Bank acquired a new position in shares of Weyerhaeuser in the 4th quarter valued at approximately $549,531,000. Bank of New York Mellon Corp bought a new stake in Weyerhaeuser during the 2nd quarter worth approximately $468,969,000. Manning & Napier Advisors LLC bought a new stake in Weyerhaeuser during the 1st quarter worth approximately $101,969,000. Finally, Freestone Grove Partners LP raised its holdings in Weyerhaeuser by 124.5% during the 3rd quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock worth $166,030,000 after buying an additional 3,713,932 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Price Performance

Shares of WY opened at $23.68 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.82 and a debt-to-equity ratio of 0.56. Weyerhaeuser Company has a twelve month low of $21.16 and a twelve month high of $27.75. The stock has a market capitalization of $17.07 billion, a P/E ratio of 36.43, a P/E/G ratio of 1.24 and a beta of 0.89. The company has a 50 day moving average of $24.29 and a 200-day moving average of $24.38.

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

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, September 4th. Weyerhaeuser’s dividend payout ratio is presently 129.23%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on WY. Raymond James Financial raised shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a research note on Friday, July 10th. Truist Financial reissued a “hold” rating and set a $28.00 price objective (up from $27.00) on shares of Weyerhaeuser in a research report on Monday, August 3rd. JPMorgan Chase & Co. raised their price objective on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. DA Davidson reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Weyerhaeuser has a consensus rating of “Moderate Buy” and a consensus 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.