Weyerhaeuser Co (WY) Stake Increased by Bank of New York Mellon Corp
Bank of New York Mellon Corp lifted its holdings in Weyerhaeuser Co (NYSE:WY) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,827,895 shares of the real estate investment trust’s stock after buying an additional 580,014 shares during the period. Bank of New York Mellon Corp’s holdings in Weyerhaeuser were worth $311,270,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of WY. Principal Financial Group Inc. boosted its position in Weyerhaeuser by 110.0% during the third quarter. Principal Financial Group Inc. now owns 2,818,177 shares of the real estate investment trust’s stock valued at $95,903,000 after purchasing an additional 1,476,159 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Weyerhaeuser by 2.6% during the third quarter. First Eagle Investment Management LLC now owns 37,712,997 shares of the real estate investment trust’s stock valued at $1,283,373,000 after purchasing an additional 951,807 shares during the last quarter. American Century Companies Inc. boosted its position in Weyerhaeuser by 5.8% during the third quarter. American Century Companies Inc. now owns 17,058,712 shares of the real estate investment trust’s stock valued at $580,508,000 after purchasing an additional 934,684 shares during the last quarter. Barings LLC boosted its position in Weyerhaeuser by 179.5% during the fourth quarter. Barings LLC now owns 1,289,013 shares of the real estate investment trust’s stock valued at $45,451,000 after purchasing an additional 827,804 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Weyerhaeuser by 9.4% during the third quarter. JPMorgan Chase & Co. now owns 9,491,183 shares of the real estate investment trust’s stock valued at $322,797,000 after purchasing an additional 813,226 shares during the last quarter. 74.53% of the stock is owned by institutional investors and hedge funds.
Weyerhaeuser Co (NYSE:WY) opened at $35.18 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.47 and a quick ratio of 1.14. The company has a market capitalization of $26,550.00, a PE ratio of 41.88, a PEG ratio of 5.25 and a beta of 1.42. Weyerhaeuser Co has a 12 month low of $30.95 and a 12 month high of $37.89.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 2nd will be paid a $0.32 dividend. The ex-dividend date is Thursday, March 1st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.64%. Weyerhaeuser’s payout ratio is presently 152.38%.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Saturday, February 10th. Bank of America raised Weyerhaeuser from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 24th. TheStreet raised Weyerhaeuser from a “c+” rating to a “b-” rating in a research report on Wednesday, November 8th. Argus lifted their price objective on Weyerhaeuser from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Finally, Stephens assumed coverage on Weyerhaeuser in a research report on Tuesday, October 24th. They set an “equal weight” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $37.44.
In other news, insider Rhonda D. Hunter sold 23,343 shares of Weyerhaeuser stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $36.12, for a total value of $843,149.16. Following the transaction, the insider now directly owns 98,973 shares in the company, valued at $3,574,904.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.20% of the company’s stock.
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Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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