Norges Bank Buys Shares of 22,681,007 Weyerhaeuser (NYSE:WY)

Norges Bank bought a new stake in shares of Weyerhaeuser (NYSE:WY) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 22,681,007 shares of the real estate investment trust’s stock, valued at approximately $638,470,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP grew its stake in Weyerhaeuser by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock worth $1,210,694,000 after buying an additional 4,035,048 shares during the last quarter. State Street Corp grew its position in shares of Weyerhaeuser by 2.5% during the third quarter. State Street Corp now owns 31,407,646 shares of the real estate investment trust’s stock worth $1,063,463,000 after acquiring an additional 761,757 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Weyerhaeuser by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 19,534,058 shares of the real estate investment trust’s stock worth $659,422,000 after acquiring an additional 217,510 shares during the period. First Eagle Investment Management LLC lifted its position in Weyerhaeuser by 1.1% in the 4th quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust’s stock valued at $404,299,000 after purchasing an additional 158,800 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Weyerhaeuser by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,986,081 shares of the real estate investment trust’s stock valued at $252,958,000 after purchasing an additional 245,962 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WY has been the topic of several analyst reports. StockNews.com upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Thursday, February 6th. Royal Bank of Canada restated an “outperform” rating and issued a $36.00 target price on shares of Weyerhaeuser in a research report on Monday, February 3rd. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. CIBC raised Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target for the company in a research note on Wednesday, January 15th. Finally, Truist Financial cut their price objective on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Three 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’s stock. Based on data from MarketBeat, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Weyerhaeuser Stock Up 0.6 %

WY opened at $29.60 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79. The company has a market capitalization of $21.48 billion, a PE ratio of 53.82, a P/E/G ratio of 4.74 and a beta of 1.43. The stock’s fifty day moving average is $30.04 and its 200-day moving average is $30.72. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its quarterly 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%. On average, equities analysts predict that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, March 7th. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s payout ratio is presently 152.73%.

About Weyerhaeuser

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.