Illinois Municipal Retirement Fund Grows Position in Weyerhaeuser Company $WY

Illinois Municipal Retirement Fund raised its stake in shares of Weyerhaeuser Company (NYSE:WY) by 25.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,326 shares of the real estate investment trust’s stock after purchasing an additional 66,770 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Weyerhaeuser were worth $8,168,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. increased its position in shares of Weyerhaeuser by 18.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock valued at $65,878,000 after acquiring an additional 346,571 shares during the period. Empowered Funds LLC raised its stake in Weyerhaeuser by 3.4% in the 1st quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock worth $1,348,000 after acquiring an additional 1,498 shares during the last quarter. Intech Investment Management LLC lifted its position in Weyerhaeuser by 5.9% during the 1st quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock worth $1,647,000 after acquiring an additional 3,124 shares during the period. Gamco Investors INC. ET AL purchased a new stake in Weyerhaeuser during the 2nd quarter valued at about $275,000. Finally, Bank of Nova Scotia increased its holdings in shares of 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 purchasing an additional 8,500 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

WY has been the subject of a number of research reports. Truist Financial decreased their target price on Weyerhaeuser from $28.00 to $27.00 and set a “hold” rating for the company in a report on Wednesday. JPMorgan Chase & Co. increased their price target on shares of Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a report on Monday, June 29th. Weiss Ratings lowered shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 25th. DA Davidson restated a “buy” rating and set a $31.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Finally, Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One equities 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. Based on data from MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Weyerhaeuser Stock Up 0.0%

Shares of WY opened at $24.46 on Friday. The company has a market capitalization of $17.64 billion, a price-to-earnings ratio of 45.30, a PEG ratio of 1.34 and a beta of 0.89. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75. The stock’s 50-day moving average price is $23.99 and its 200-day moving average price is $24.62. 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 (NYSE:WY) last announced its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.72 billion. During the same period last year, the business earned $0.11 earnings per share. Weyerhaeuser’s quarterly revenue was down 2.0% on a year-over-year basis. On average, sell-side analysts predict that Weyerhaeuser Company will post 0.31 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser’s payout ratio is 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.