Azimuth Capital Investment Management LLC Boosts Stock Position in Weyerhaeuser (NYSE:WY)

Azimuth Capital Investment Management LLC boosted its holdings in Weyerhaeuser (NYSE:WY - Free Report) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 219,255 shares of the real estate investment trust's stock after acquiring an additional 16,874 shares during the period. Azimuth Capital Investment Management LLC's holdings in Weyerhaeuser were worth $6,172,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of Weyerhaeuser by 290.9% in the fourth quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 922 shares in the last quarter. Asset Planning Inc acquired a new position in shares of Weyerhaeuser during the fourth quarter worth about $36,000. Lee Danner & Bass Inc. acquired a new stake in Weyerhaeuser in the fourth quarter valued at approximately $44,000. Graney & King LLC purchased a new position in Weyerhaeuser in the fourth quarter worth approximately $44,000. Finally, AdvisorNet Financial Inc grew its holdings in Weyerhaeuser by 41.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust's stock worth $47,000 after acquiring an additional 486 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Raymond James raised shares of Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $32.00 price objective for the company in a research report on Monday, December 23rd. JPMorgan Chase & Co. initiated coverage on Weyerhaeuser in a research report on Tuesday, April 8th. They issued an "overweight" rating and a $31.00 target price for the company. Truist Financial decreased their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a "hold" rating for the company in a research note on Monday, January 6th. Citigroup reduced their price objective on Weyerhaeuser from $38.00 to $35.00 and set a "buy" rating for the company in a research note on Wednesday, January 15th. Finally, Cibc World Mkts raised Weyerhaeuser from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $34.50.

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Weyerhaeuser Price Performance

Weyerhaeuser stock traded down $0.13 during mid-day trading on Tuesday, reaching $25.99. The company had a trading volume of 810,118 shares, compared to its average volume of 3,685,610. The stock's 50-day simple moving average is $29.06 and its 200-day simple moving average is $30.15. Weyerhaeuser has a 1 year low of $24.10 and a 1 year high of $34.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17. The company has a market capitalization of $18.86 billion, a P/E ratio of 47.26, a P/E/G ratio of 4.74 and a beta of 1.25.

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 return on equity of 3.86% and a net margin of 5.56%. On average, equities analysts predict that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were given a dividend of $0.21 per share. The ex-dividend date was Friday, March 7th. This represents a $0.84 dividend on an annualized basis and a yield of 3.23%. This is a boost from Weyerhaeuser's previous quarterly dividend of $0.20. Weyerhaeuser's payout ratio is presently 152.73%.

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.