Bank of New York Mellon Corp Has $124.77 Million Position in Weyerhaeuser (NYSE:WY)

Bank of New York Mellon Corp trimmed its holdings in shares of Weyerhaeuser (NYSE:WY) by 16.8% during the fourth quarter, HoldingsChannel reports. The fund owned 4,432,196 shares of the real estate investment trust’s stock after selling 896,226 shares during the quarter. Bank of New York Mellon Corp’s holdings in Weyerhaeuser were worth $124,766,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WY. First Trust Direct Indexing L.P. raised its position in shares of Weyerhaeuser by 7.5% during the third quarter. First Trust Direct Indexing L.P. now owns 15,405 shares of the real estate investment trust’s stock worth $522,000 after acquiring an additional 1,081 shares during the last quarter. Hills Bank & Trust Co acquired a new stake in shares of Weyerhaeuser during the third quarter worth $110,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Weyerhaeuser during the third quarter worth $148,000. Van ECK Associates Corp raised its stake in Weyerhaeuser by 2,221.8% during the third quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust’s stock worth $39,674,000 after buying an additional 1,191,983 shares during the last quarter. Finally, BSW Wealth Partners acquired a new position in Weyerhaeuser in the third quarter valued at $201,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on WY shares. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Thursday, February 6th. CIBC upgraded Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price for the company in a report on Wednesday, January 15th. Truist Financial dropped their price target on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Citigroup reduced their price objective on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating for the company in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $36.00 target price on shares of Weyerhaeuser in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Weyerhaeuser has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Weyerhaeuser Price Performance

Shares of WY opened at $30.06 on Friday. The business’s fifty day moving average is $29.43 and its 200 day moving average is $30.78. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $36.27. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. The stock has a market cap of $21.81 billion, a P/E ratio of 54.65, a P/E/G ratio of 4.74 and a beta of 1.42.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. Sell-side analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a dividend of $0.21 per share. The ex-dividend date is Friday, March 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.79%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s payout ratio is 152.73%.

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.