Point72 Asset Management L.P. Makes New Investment in Weyerhaeuser (NYSE:WY)

Point72 Asset Management L.P. acquired a new position in shares of Weyerhaeuser (NYSE:WY - Free Report) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,204,154 shares of the real estate investment trust's stock, valued at approximately $40,773,000. Point72 Asset Management L.P. owned approximately 0.17% of Weyerhaeuser at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc increased its position in Weyerhaeuser by 4.6% during the 2nd quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust's stock worth $324,450,000 after purchasing an additional 503,059 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Weyerhaeuser by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust's stock worth $295,940,000 after acquiring an additional 454,095 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Weyerhaeuser by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust's stock worth $291,306,000 after acquiring an additional 2,004,073 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Weyerhaeuser by 257.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust's stock valued at $151,437,000 after purchasing an additional 3,220,235 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in Weyerhaeuser by 23.3% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,919,349 shares of the real estate investment trust's stock worth $132,709,000 after purchasing an additional 740,508 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WY shares. Argus upgraded Weyerhaeuser to a "hold" rating in a report on Friday, August 9th. Truist Financial increased their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a "hold" rating in a research report on Tuesday, October 15th. Finally, StockNews.com lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Weyerhaeuser has an average rating of "Hold" and an average price target of $36.33.

Weyerhaeuser Trading Down 0.9 %

NYSE WY traded down $0.27 on Thursday, hitting $30.97. 2,066,941 shares of the company were exchanged, compared to its average volume of 3,587,533. The company's 50 day moving average price is $32.03 and its 200-day moving average price is $30.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41. The firm has a market capitalization of $22.50 billion, a P/E ratio of 41.84 and a beta of 1.40. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. Weyerhaeuser's dividend payout ratio is 108.11%.

Insider Activity

In other news, Director James Calvin O'rourke purchased 7,800 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $32.01 per share, with a total value of $249,678.00. Following the purchase, the director now owns 17,672 shares in the company, valued at $565,680.72. This represents a 79.01 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.27% of the stock is owned by corporate insiders.

About Weyerhaeuser

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.