34,681 Shares in Weyerhaeuser Company $WY Bought by Independent Financial Group LLC

Independent Financial Group LLC acquired a new stake in Weyerhaeuser Company (NYSE:WY) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 34,681 shares of the real estate investment trust’s stock, valued at approximately $847,000.

Other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in shares of Weyerhaeuser by 4.4% in the fourth quarter. Wellington Management Group LLP now owns 41,378,212 shares of the real estate investment trust’s stock worth $980,250,000 after acquiring an additional 1,731,315 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Weyerhaeuser by 166.1% during the 4th quarter. First Eagle Investment Management LLC now owns 37,621,004 shares of the real estate investment trust’s stock valued at $891,242,000 after purchasing an additional 23,485,504 shares during the last quarter. State Street Corp grew its holdings in shares of Weyerhaeuser by 1.7% during the 4th quarter. State Street Corp now owns 33,031,378 shares of the real estate investment trust’s stock valued at $782,513,000 after purchasing an additional 562,781 shares during the last quarter. Norges Bank acquired a new position in Weyerhaeuser during the 4th quarter worth approximately $549,531,000. Finally, Geode Capital Management LLC increased its position in Weyerhaeuser by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 20,299,110 shares of the real estate investment trust’s stock worth $479,155,000 after purchasing an additional 225,227 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson reissued a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Weiss Ratings downgraded shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a research note on Thursday, April 23rd. Finally, Truist Financial reduced their price objective on Weyerhaeuser from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Weyerhaeuser Stock Down 1.5%

Shares of NYSE WY opened at $23.59 on Wednesday. The company has a 50 day simple moving average of $24.01 and a 200 day simple moving average of $24.63. The firm has a market cap of $17.01 billion, a PE ratio of 43.69, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm posted $0.11 EPS. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. On average, research analysts forecast that Weyerhaeuser Company will post 0.3 EPS for the current year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, June 5th. Weyerhaeuser’s dividend payout ratio is presently 155.56%.

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.