Weyerhaeuser Company $WY Shares Bought by First Eagle Investment Management LLC

First Eagle Investment Management LLC raised its holdings in Weyerhaeuser Company (NYSE:WY) by 10.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 51,179,282 shares of the real estate investment trust’s stock after acquiring an additional 4,885,818 shares during the period. Weyerhaeuser accounts for 1.3% of First Eagle Investment Management LLC’s holdings, making the stock its 27th biggest holding. First Eagle Investment Management LLC owned approximately 0.07% of Weyerhaeuser worth $1,225,232,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of Weyerhaeuser by 14.3% during the 2nd quarter. Wellington Management Group LLP now owns 43,574,118 shares of the real estate investment trust’s stock valued at $1,043,164,000 after buying an additional 5,437,685 shares during the last quarter. State Street Corp lifted its holdings in Weyerhaeuser by 1.7% in the fourth quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock valued at $782,513,000 after acquiring an additional 562,781 shares during the period. California State Teachers Retirement System lifted its holdings in Weyerhaeuser by 2,980.6% in the second quarter. California State Teachers Retirement System now owns 25,524,804 shares of the real estate investment trust’s stock valued at $611,064,000 after acquiring an additional 24,696,247 shares during the period. Norges Bank purchased a new stake in Weyerhaeuser in the 4th quarter worth approximately $549,531,000. Finally, Geode Capital Management LLC boosted its position in Weyerhaeuser by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock worth $479,155,000 after purchasing an additional 225,227 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently 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 target price for the company in a report on Friday, July 10th. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. cut their price objective on shares of Weyerhaeuser from $31.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday. Citigroup decreased their price objective on shares of Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, August 4th. Finally, DA Davidson reissued a “buy” rating and set a $31.00 target price on shares of Weyerhaeuser in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Weyerhaeuser presently has an average rating of “Moderate Buy” and a consensus price target of $28.67.

Weyerhaeuser Trading Up 0.1%

Shares of NYSE:WY opened at $23.04 on Monday. The business’s 50 day moving average price is $24.11 and its 200-day moving average price is $24.23. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The firm has a market capitalization of $16.61 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 2.23 and a beta of 0.87. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.82 and a quick ratio of 1.15.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter last year, the firm earned $0.12 earnings per share. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. On average, equities research analysts forecast that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 4th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 129.23%.

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.