Summit Financial LLC Purchases New Stake in Weyerhaeuser (NYSE:WY)

Summit Financial LLC bought a new position in shares of Weyerhaeuser (NYSE:WY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 26,408 shares of the real estate investment trust's stock, valued at approximately $743,000.

A number of other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in Weyerhaeuser by 12.7% in the third quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust's stock valued at $1,210,694,000 after buying an additional 4,035,048 shares in the last quarter. State Street Corp grew its position in Weyerhaeuser by 2.5% during the 3rd quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust's stock worth $1,063,463,000 after acquiring an additional 761,757 shares during the last quarter. Norges Bank acquired a new position in Weyerhaeuser in the 4th quarter worth about $638,470,000. Geode Capital Management LLC raised its position in Weyerhaeuser by 1.1% in the third quarter. Geode Capital Management LLC now owns 19,534,058 shares of the real estate investment trust's stock valued at $659,422,000 after purchasing an additional 217,510 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Weyerhaeuser by 1.1% during the fourth quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust's stock valued at $404,299,000 after purchasing an additional 158,800 shares in the last quarter. Institutional investors own 82.99% of the company's stock.

Weyerhaeuser Trading Down 4.4 %

WY stock traded down $1.21 during mid-day trading on Friday, reaching $26.22. The company's stock had a trading volume of 6,633,633 shares, compared to its average volume of 3,653,548. The company has a market cap of $19.03 billion, a price-to-earnings ratio of 47.67, a price-to-earnings-growth ratio of 4.74 and a beta of 1.25. Weyerhaeuser has a 12 month low of $26.07 and a 12 month high of $35.08. The business's 50 day moving average price is $29.84 and its 200 day moving average price is $30.60. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

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Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. On average, equities research analysts predict that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Friday, March 7th were paid a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Weyerhaeuser's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 3.20%. Weyerhaeuser's dividend payout ratio (DPR) is currently 152.73%.

Analyst Ratings Changes

A number of brokerages recently issued reports on WY. Truist Financial dropped their price objective on shares of Weyerhaeuser from $34.00 to $33.00 and set a "hold" rating for the company in a report on Monday, January 6th. Cibc World Mkts upgraded Weyerhaeuser from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Raymond James upgraded Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price target on the stock in a research report on Monday, December 23rd. Royal Bank of Canada restated an "outperform" rating and set a $36.00 price objective on shares of Weyerhaeuser in a research report on Monday, February 3rd. Finally, Citigroup reduced their target price on Weyerhaeuser from $38.00 to $35.00 and set a "buy" rating on the stock in a report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Weyerhaeuser has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.

Weyerhaeuser Company Profile

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.