Engineers Gate Manager LP Purchases 1,010,372 Shares of Weyerhaeuser Company $WY

Engineers Gate Manager LP boosted its position in shares of Weyerhaeuser Company (NYSE:WY) by 67.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,518,585 shares of the real estate investment trust’s stock after purchasing an additional 1,010,372 shares during the period. Weyerhaeuser comprises 0.7% of Engineers Gate Manager LP’s holdings, making the stock its 19th biggest holding. Engineers Gate Manager LP’s holdings in Weyerhaeuser were worth $59,665,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Weyerhaeuser during the 4th quarter valued at about $39,000. Addison Advisors LLC grew its holdings in Weyerhaeuser by 83.4% during the 4th quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 757 shares during the last quarter. Optiver Holding B.V. bought a new position in Weyerhaeuser during the 3rd quarter valued at about $42,000. Costello Asset Management INC grew its holdings in Weyerhaeuser by 118.9% during the 4th quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 976 shares during the last quarter. Finally, Lloyd Advisory Services LLC. bought a new position in Weyerhaeuser during the 4th quarter valued at about $43,000. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Price Performance

Shares of WY stock opened at $24.31 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80. The company has a market capitalization of $17.53 billion, a P/E ratio of 45.02, a P/E/G ratio of 1.41 and a beta of 0.89. The company’s 50-day simple moving average is $24.23 and its two-hundred day simple moving average is $24.46. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.11 EPS. As a group, equities analysts anticipate that Weyerhaeuser Company will post 0.32 EPS for the current year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Shareholders of record on Friday, June 5th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, June 5th. Weyerhaeuser’s dividend payout ratio is currently 155.56%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WY. Weiss Ratings upgraded shares of Weyerhaeuser from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, June 11th. Canadian Imperial Bank of Commerce set a $28.00 price target on shares of Weyerhaeuser in a report on Thursday, April 23rd. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial cut their price target on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, April 15th. Finally, DA Davidson reiterated a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a report on Monday, May 4th. Six analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.88.

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.