Kornitzer Capital Management Inc. KS increased its stake in shares of Weyerhaeuser Company (NYSE:WY) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 391,635 shares of the real estate investment trust’s stock after buying an additional 14,675 shares during the period. Kornitzer Capital Management Inc. KS owned 0.05% of Weyerhaeuser worth $13,327,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. TIAA CREF Investment Management LLC boosted its holdings in Weyerhaeuser by 9.2% in the 1st quarter. TIAA CREF Investment Management LLC now owns 2,624,786 shares of the real estate investment trust’s stock valued at $89,190,000 after purchasing an additional 220,051 shares during the period. Waratah Capital Advisors Ltd. bought a new stake in Weyerhaeuser in the 1st quarter valued at about $354,000. Cheviot Value Management LLC boosted its holdings in Weyerhaeuser by 8.3% in the 1st quarter. Cheviot Value Management LLC now owns 19,061 shares of the real estate investment trust’s stock valued at $648,000 after purchasing an additional 1,464 shares during the period. FDO Partners LLC boosted its holdings in Weyerhaeuser by 9.6% in the 1st quarter. FDO Partners LLC now owns 19,364 shares of the real estate investment trust’s stock valued at $658,000 after purchasing an additional 1,692 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Weyerhaeuser by 2.1% in the 1st quarter. Legal & General Group Plc now owns 3,595,677 shares of the real estate investment trust’s stock valued at $122,178,000 after purchasing an additional 74,200 shares during the period. 75.90% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently commented on WY shares. BMO Capital Markets cut shares of Weyerhaeuser from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $28.58 to $36.00 in a research report on Monday, August 14th. Argus boosted their target price on shares of Weyerhaeuser from $37.00 to $39.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. Stephens started coverage on shares of Weyerhaeuser in a research report on Tuesday, October 24th. They issued an “equal weight” rating and a $35.00 target price for the company. TheStreet cut shares of Weyerhaeuser from a “b-” rating to a “c+” rating in a research report on Friday, August 18th. Finally, BidaskClub cut shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $37.20.
In other news, Director Rick R. Holley sold 227,341 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $35.05, for a total transaction of $7,968,302.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rhonda D. Hunter sold 45,939 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $35.72, for a total value of $1,640,941.08. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
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Shares of Weyerhaeuser Company (NYSE WY) traded up $0.08 during trading hours on Wednesday, reaching $36.19. 1,269,393 shares of the company’s stock were exchanged, compared to its average volume of 3,348,970. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.15. Weyerhaeuser Company has a 12-month low of $29.81 and a 12-month high of $36.92. The company has a market capitalization of $27,320.00, a price-to-earnings ratio of 36.85, a PEG ratio of 6.16 and a beta of 1.46.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. Weyerhaeuser had a net margin of 12.37% and a return on equity of 8.15%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period last year, the firm posted $0.30 earnings per share. The business’s revenue was up 9.5% compared to the same quarter last year. sell-side analysts expect that Weyerhaeuser Company will post 1.17 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.32 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $1.28 annualized dividend and a yield of 3.54%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.31. Weyerhaeuser’s payout ratio is 253.06%.
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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