Mystic Asset Management Inc. Invests $319,000 in Weyerhaeuser (NYSE:WY)

Mystic Asset Management Inc. purchased a new position in shares of Weyerhaeuser (NYSE:WY) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 11,331 shares of the real estate investment trust’s stock, valued at approximately $319,000.

Other hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in shares of Weyerhaeuser by 172.4% in the 3rd quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 719 shares during the period. Assetmark Inc. increased its position in shares of Weyerhaeuser by 290.9% in the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 922 shares during the period. Asset Planning Inc acquired a new position in shares of Weyerhaeuser in the 4th quarter valued at $36,000. AdvisorNet Financial Inc increased its position in shares of Weyerhaeuser by 41.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 486 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Weyerhaeuser in the 4th quarter valued at $57,000. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Trading Down 0.4 %

WY stock opened at $29.85 on Wednesday. The company’s 50-day simple moving average is $29.89 and its 200-day simple moving average is $30.76. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. Weyerhaeuser has a 52-week low of $26.73 and a 52-week high of $36.27. The firm has a market cap of $21.66 billion, a P/E ratio of 54.27, a PEG ratio of 4.74 and a beta of 1.43.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. As a group, equities analysts forecast that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.21 per share. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 2.81%. The ex-dividend date is Friday, March 7th. Weyerhaeuser’s dividend payout ratio is presently 152.73%.

Analysts Set New Price Targets

Several research firms recently issued reports on WY. Raymond James raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a research report on Monday, December 23rd. StockNews.com raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. CIBC raised shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target on the stock in a report on Wednesday, January 15th. Truist Financial lowered their price target on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a report on Monday, January 6th. Finally, BMO Capital Markets raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.