NEOS Investment Management LLC Raises Position in Weyerhaeuser Company $WY

NEOS Investment Management LLC increased its stake in Weyerhaeuser Company (NYSE:WY) by 66.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 167,966 shares of the real estate investment trust’s stock after purchasing an additional 67,201 shares during the quarter. NEOS Investment Management LLC’s holdings in Weyerhaeuser were worth $4,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Weyerhaeuser in the second quarter valued at $600,502,000. Bank of New York Mellon Corp increased its holdings in Weyerhaeuser by 86.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock worth $348,111,000 after acquiring an additional 6,284,982 shares during the last quarter. Engineers Gate Manager LP raised its stake in Weyerhaeuser by 1,493.1% in the 2nd quarter. Engineers Gate Manager LP now owns 1,541,909 shares of the real estate investment trust’s stock valued at $39,612,000 after acquiring an additional 1,445,123 shares during the period. JPMorgan Chase & Co. lifted its holdings in Weyerhaeuser by 11.5% during the second quarter. JPMorgan Chase & Co. now owns 13,306,064 shares of the real estate investment trust’s stock valued at $341,833,000 after purchasing an additional 1,374,109 shares during the last quarter. Finally, Cambiar Investors LLC bought a new position in Weyerhaeuser during the second quarter worth about $32,721,000. 82.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on WY. JPMorgan Chase & Co. cut their price target on Weyerhaeuser from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Citigroup increased their price objective on Weyerhaeuser from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Zacks Research upgraded Weyerhaeuser from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 12th. UBS Group reiterated a “buy” rating on shares of Weyerhaeuser in a research report on Monday, December 15th. Finally, Bank of America reiterated a “neutral” rating and issued a $26.00 target price (down from $29.00) on shares of Weyerhaeuser in a research note on Monday, November 17th. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.88.

Weyerhaeuser Trading Down 2.8%

Shares of Weyerhaeuser stock opened at $25.54 on Friday. The company has a 50 day simple moving average of $25.38 and a two-hundred day simple moving average of $24.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.83. The firm has a market cap of $18.40 billion, a PE ratio of 58.04 and a beta of 1.03. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $31.66.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.58 billion. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The company’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. Analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Tuesday, March 10th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 190.91%.

Insider Activity at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis purchased 4,500 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was acquired at an average cost of $23.61 per share, for a total transaction of $106,245.00. Following the completion of the transaction, the director directly owned 25,978 shares in the company, valued at approximately $613,340.58. This represents a 20.95% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Devin W. Stockfish sold 90,162 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $23.33, for a total transaction of $2,103,479.46. Following the completion of the transaction, the chief executive officer owned 1,024,861 shares in the company, valued at $23,910,007.13. This represents a 8.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser 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.