Legacy Wealth Asset Management LLC Buys New Shares in Weyerhaeuser (NYSE:WY)


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Legacy Wealth Asset Management LLC acquired a new stake in Weyerhaeuser (NYSE:WY) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 21,932 shares of the real estate investment trust’s stock, valued at approximately $735,000.

Several other institutional investors have also made changes to their positions in the company. BlackRock Inc. lifted its position in shares of Weyerhaeuser by 1.6% in the fourth quarter. BlackRock Inc. now owns 52,733,375 shares of the real estate investment trust’s stock valued at $1,768,152,000 after acquiring an additional 854,081 shares in the last quarter. Norges Bank bought a new stake in shares of Weyerhaeuser in the fourth quarter worth about $332,280,000. Bank of New York Mellon Corp increased its holdings in shares of Weyerhaeuser by 12.1% in the fourth quarter. Bank of New York Mellon Corp now owns 7,312,231 shares of the real estate investment trust’s stock worth $245,181,000 after purchasing an additional 791,268 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in Weyerhaeuser by 38.4% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 6,569,212 shares of the real estate investment trust’s stock worth $220,266,000 after acquiring an additional 1,821,796 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Weyerhaeuser by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,470,037 shares of the real estate investment trust’s stock worth $216,941,000 after acquiring an additional 42,620 shares during the last quarter. Institutional investors and hedge funds own 77.46% of the company’s stock.

Shares of NYSE WY opened at $36.83 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.72 and a current ratio of 2.28. The firm has a market capitalization of $27.54 billion, a price-to-earnings ratio of 89.83 and a beta of 1.96. The stock has a 50 day moving average price of $34.97 and a 200 day moving average price of $31.93. Weyerhaeuser has a 52-week low of $16.05 and a 52-week high of $37.28.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, January 28th. The real estate investment trust reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.01). The firm had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Weyerhaeuser had a net margin of 4.67% and a return on equity of 3.59%. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.03 EPS. Analysts forecast that Weyerhaeuser will post 0.95 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 19th. Investors of record on Friday, March 5th were issued a $0.17 dividend. The ex-dividend date was Thursday, March 4th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.85%. Weyerhaeuser’s payout ratio is 174.36%.

WY has been the topic of several analyst reports. TheStreet raised Weyerhaeuser from a “c+” rating to a “b-” rating in a research note on Friday, December 18th. Raymond James boosted their price objective on Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 2nd. Finally, DA Davidson boosted their price objective on Weyerhaeuser from $29.00 to $34.00 in a research note on Monday, February 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $31.38.

In other Weyerhaeuser news, CFO Russell S. Hagen sold 24,000 shares of the company’s stock in a transaction on Tuesday, February 2nd. The stock was sold at an average price of $32.10, for a total transaction of $770,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.27% of the stock is currently owned by insiders.

Weyerhaeuser 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.

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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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