Weyerhaeuser Company $WY Stock: Pictet Asset Management Holding SA Lowers Position

Pictet Asset Management Holding SA reduced its holdings in Weyerhaeuser Company (NYSE:WY) by 4.8% during the 3rd quarter, Holdings Channel reports. The firm owned 4,074,085 shares of the real estate investment trust’s stock after selling 205,966 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Weyerhaeuser were worth $77,611,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its holdings in Weyerhaeuser by 524.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 176,165 shares of the real estate investment trust’s stock worth $4,217,000 after acquiring an additional 147,971 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Weyerhaeuser by 23.0% during the second quarter. Hsbc Holdings PLC now owns 1,636,104 shares of the real estate investment trust’s stock valued at $39,100,000 after purchasing an additional 305,983 shares in the last quarter. First Eagle Investment Management LLC lifted its holdings in Weyerhaeuser by 10.6% during the second quarter. First Eagle Investment Management LLC now owns 51,179,282 shares of the real estate investment trust’s stock valued at $1,225,232,000 after purchasing an additional 4,885,818 shares in the last quarter. Markel Group Inc. lifted its holdings in Weyerhaeuser by 585.7% during the second quarter. Markel Group Inc. now owns 120,000 shares of the real estate investment trust’s stock valued at $2,873,000 after purchasing an additional 102,500 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Weyerhaeuser during the second quarter valued at $468,969,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Royal Bank Of Canada dropped their target price on shares of Weyerhaeuser from $30.00 to $25.00 and set an “outperform” rating on the stock in a research report on Friday, October 16th. Canadian Imperial Bank of Commerce reduced their price target on shares of Weyerhaeuser from $25.00 to $24.00 and set an “outperformer” rating for the company in a research report on Monday, November 2nd. JPMorgan Chase & Co. decreased their price target on shares of Weyerhaeuser from $31.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, September 3rd. Truist Financial lowered their price objective on Weyerhaeuser from $28.00 to $24.00 and set a “hold” rating on the stock in a report on Monday, October 12th. Finally, Wall Street Zen upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $26.10.

Weyerhaeuser Stock Up 0.7%

Shares of WY opened at $21.12 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.08 and a current ratio of 1.82. Weyerhaeuser Company has a one year low of $18.25 and a one year high of $27.75. The stock has a market capitalization of $15.21 billion, a price-to-earnings ratio of 94.57, a PEG ratio of 4.45 and a beta of 0.92. The stock has a 50 day moving average price of $20.52 and a 200 day moving average price of $23.53.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, October 29th. The real estate investment trust reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The firm had revenue of $1.86 billion during the quarter, compared to the consensus estimate of $1.92 billion. Weyerhaeuser had a return on equity of 1.72% and a net margin of 6.47%. The firm’s revenue was up 8.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS. Equities research analysts forecast that Weyerhaeuser Company will post 0.27 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.0%. Weyerhaeuser’s dividend payout ratio is presently 135.48%.

About Weyerhaeuser

Weyerhaeuser is a timber, land and wood-products company founded in 1900 and headquartered in Seattle. It owns and manages timberlands in the United States and holds long-term forest-management licenses in Canada.

The company grows and harvests timber and manufactures wood products, including lumber, engineered wood products, oriented strand board and plywood. These materials are used in residential construction, remodeling and other building applications.

Weyerhaeuser also manages its timberlands for real estate, energy and other natural-resource opportunities.