Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Weyerhaeuser Company $WY

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Weyerhaeuser Company (NYSE:WY) by 3.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,519,262 shares of the real estate investment trust’s stock after buying an additional 43,656 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Weyerhaeuser were worth $36,158,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. boosted its stake in Weyerhaeuser by 18.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after purchasing an additional 346,571 shares during the period. Empowered Funds LLC boosted its stake in Weyerhaeuser by 3.4% during the 1st quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock worth $1,348,000 after purchasing an additional 1,498 shares during the period. Intech Investment Management LLC boosted its stake in Weyerhaeuser by 5.9% during the 1st quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock worth $1,647,000 after purchasing an additional 3,124 shares during the period. Gamco Investors INC. ET AL acquired a new stake in Weyerhaeuser during the 2nd quarter worth $275,000. Finally, Bank of Nova Scotia boosted its stake in Weyerhaeuser by 10.2% during the 2nd quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after purchasing an additional 8,500 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Down 0.7%

WY stock opened at $23.53 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. The stock has a market capitalization of $16.96 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 1.50 and a beta of 0.90. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.86. The company has a fifty day moving average of $24.25 and a 200-day moving average of $24.20.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.11 EPS. As a group, analysts expect that Weyerhaeuser Company will post 0.28 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 10th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, March 10th. Weyerhaeuser’s dividend payout ratio is currently 155.56%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 4th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a research note on Thursday, April 23rd. Citigroup decreased their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating for the company in a research note on Tuesday, May 5th. Truist Financial decreased their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, April 15th. Finally, Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday. Six investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Weyerhaeuser currently has an average rating of “Hold” and a consensus target price of $28.50.

Insiders Place Their Bets

In other Weyerhaeuser news, Director James Calvin O’rourke acquired 4,000 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were purchased at an average price of $25.35 per share, with a total value of $101,400.00. Following the completion of the acquisition, the director directly owned 28,661 shares of the company’s stock, valued at approximately $726,556.35. The trade was a 16.22% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard Beckwitt acquired 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The shares were acquired at an average cost of $25.70 per share, for a total transaction of $514,000.00. Following the acquisition, the director directly owned 24,066 shares of the company’s stock, valued at $618,496.20. This trade represents a 491.88% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.31% of the company’s stock.

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.