CIBC Asset Management Inc Acquires 69,169 Shares of Weyerhaeuser Company $WY

CIBC Asset Management Inc boosted its holdings in Weyerhaeuser Company (NYSE:WY) by 68.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 170,151 shares of the real estate investment trust’s stock after purchasing an additional 69,169 shares during the quarter. CIBC Asset Management Inc’s holdings in Weyerhaeuser were worth $4,031,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in WY. Goldman Sachs Group Inc. increased its holdings in Weyerhaeuser by 18.2% in the first 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 in the last quarter. Empowered Funds LLC increased its holdings in Weyerhaeuser by 3.4% in the first 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 in the last quarter. Intech Investment Management LLC increased its holdings in Weyerhaeuser by 5.9% in the first 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 in the last quarter. Gamco Investors INC. ET AL acquired a new stake in Weyerhaeuser in the second quarter valued at approximately $275,000. Finally, Bank of Nova Scotia grew its stake in Weyerhaeuser by 10.2% in the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock valued at $2,354,000 after acquiring an additional 8,500 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wall Street Zen raised Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. JPMorgan Chase & Co. reduced their price objective on Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, May 14th. Truist Financial reduced their price objective on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday, April 15th. DA Davidson reissued a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Monday, May 4th. Finally, Weiss Ratings cut Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Weyerhaeuser has an average rating of “Moderate Buy” and an average target price of $28.88.

Weyerhaeuser Stock Down 0.8%

Shares of NYSE:WY opened at $24.51 on Friday. The stock has a market cap of $17.67 billion, a price-to-earnings ratio of 45.39, a PEG ratio of 1.39 and a beta of 0.89. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.86. The business’s 50 day moving average is $24.18 and its 200 day moving average is $24.29.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating 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%.Weyerhaeuser’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.11 earnings per share. On average, sell-side analysts forecast that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Weyerhaeuser’s payout ratio is presently 155.56%.

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.