Bank of Montreal Can Raises Stake in Weyerhaeuser (NYSE:WY)

Bank of Montreal Can boosted its holdings in shares of Weyerhaeuser (NYSE:WY) by 29.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 970,717 shares of the real estate investment trust’s stock after purchasing an additional 220,142 shares during the period. Bank of Montreal Can owned approximately 0.13% of Weyerhaeuser worth $32,762,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of WY. M&G Plc boosted its holdings in shares of Weyerhaeuser by 16.2% in the second quarter. M&G Plc now owns 1,961,969 shares of the real estate investment trust’s stock valued at $54,935,000 after acquiring an additional 273,291 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in shares of Weyerhaeuser by 17.3% in the second quarter. Public Sector Pension Investment Board now owns 101,258 shares of the real estate investment trust’s stock valued at $2,875,000 after acquiring an additional 14,911 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of Weyerhaeuser by 146.4% in the third quarter. Quest Partners LLC now owns 96,621 shares of the real estate investment trust’s stock valued at $3,272,000 after acquiring an additional 57,412 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Weyerhaeuser by 5.2% in the second quarter. QRG Capital Management Inc. now owns 397,319 shares of the real estate investment trust’s stock valued at $11,280,000 after acquiring an additional 19,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Weyerhaeuser by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust’s stock valued at $295,940,000 after acquiring an additional 454,095 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WY has been the topic of several analyst reports. Truist Financial lifted their target price on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. StockNews.com cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. Finally, Argus upgraded shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.33.

Insiders Place Their Bets

In other news, Director James Calvin O’rourke purchased 7,800 shares of the stock in a transaction dated Friday, September 13th. The stock was acquired at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the acquisition, the director now directly owns 17,672 shares in the company, valued at $565,680.72. This represents a 79.01 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by company insiders.

Weyerhaeuser Stock Performance

Shares of WY opened at $32.35 on Friday. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. The stock has a market cap of $23.50 billion, a P/E ratio of 43.72 and a beta of 1.40. The company has a 50-day moving average of $32.20 and a two-hundred day moving average of $30.82. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $36.27.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The firm’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, research analysts predict that Weyerhaeuser will post 0.46 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s payout ratio is currently 108.11%.

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.