CIBC Asset Management Inc Buys 7,911 Shares of Weyerhaeuser (NYSE:WY)

CIBC Asset Management Inc boosted its position in shares of Weyerhaeuser (NYSE:WY) by 8.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,402 shares of the real estate investment trust’s stock after purchasing an additional 7,911 shares during the quarter. CIBC Asset Management Inc’s holdings in Weyerhaeuser were worth $3,603,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Weyerhaeuser by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock valued at $1,840,807,000 after buying an additional 2,874,101 shares during the period. Legal & General Group Plc grew its stake in Weyerhaeuser by 4.6% in the second quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust’s stock valued at $324,450,000 after acquiring an additional 503,059 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Weyerhaeuser by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock worth $291,306,000 after acquiring an additional 2,004,073 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Weyerhaeuser by 32.3% in the second quarter. Principal Financial Group Inc. now owns 3,296,393 shares of the real estate investment trust’s stock worth $93,584,000 after acquiring an additional 804,650 shares in the last quarter. Finally, abrdn plc raised its position in shares of Weyerhaeuser by 4.1% during the third quarter. abrdn plc now owns 3,256,780 shares of the real estate investment trust’s stock worth $110,161,000 after purchasing an additional 128,055 shares during the period. Institutional investors own 82.99% of the company’s stock.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director James Calvin O’rourke bought 7,800 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the transaction, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. This trade represents a 79.01 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Albert Monaco bought 31,500 shares of the stock in a transaction dated Monday, August 26th. The shares were acquired at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the acquisition, the director now directly owns 70,726 shares of the company’s stock, valued at approximately $2,219,381.88. This trade represents a 80.30 % increase in their position. The disclosure for this purchase can be found here. 0.30% of the stock is owned by corporate insiders.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $31.02 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. The stock has a 50 day moving average price of $32.32 and a 200 day moving average price of $30.79. The stock has a market capitalization of $22.54 billion, a PE ratio of 41.92 and a beta of 1.40. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. During the same quarter last year, the company posted $0.33 EPS. Weyerhaeuser’s quarterly revenue was down 13.3% compared to the same quarter last year. Analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s payout ratio is 108.11%.

Wall Street Analysts Forecast Growth

Several analysts have commented on WY shares. Royal Bank of Canada raised their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, July 30th. DA Davidson lowered their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, July 29th. Truist Financial boosted their price target on Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. Finally, Argus upgraded Weyerhaeuser to a “hold” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Weyerhaeuser currently has an average rating of “Hold” and an average price target of $36.33.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.