Millennium Management LLC Has $44.39 Million Stock Position in Weyerhaeuser (NYSE:WY)

Millennium Management LLC lifted its stake in Weyerhaeuser (NYSE:WY) by 512.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,563,454 shares of the real estate investment trust’s stock after acquiring an additional 1,308,125 shares during the quarter. Millennium Management LLC owned approximately 0.21% of Weyerhaeuser worth $44,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Weyerhaeuser by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock worth $1,840,807,000 after purchasing an additional 2,874,101 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Weyerhaeuser by 53.2% during the fourth quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust’s stock worth $1,028,191,000 after acquiring an additional 10,271,891 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Weyerhaeuser by 3.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 6,599,173 shares of the real estate investment trust’s stock worth $187,351,000 after acquiring an additional 193,087 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Weyerhaeuser by 32.3% during the second quarter. Principal Financial Group Inc. now owns 3,296,393 shares of the real estate investment trust’s stock worth $93,584,000 after acquiring an additional 804,650 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Weyerhaeuser by 31.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,178,841 shares of the real estate investment trust’s stock worth $90,247,000 after acquiring an additional 769,149 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Upgrades and Downgrades

WY has been the subject of a number of research analyst reports. BMO Capital Markets restated a “market perform” rating and set a $38.00 price objective on shares of Weyerhaeuser in a report on Tuesday, July 30th. Royal Bank of Canada lifted their price target on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Citigroup dropped their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. DA Davidson dropped their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Finally, Truist Financial dropped their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Weyerhaeuser presently has a consensus rating of “Hold” and a consensus target price of $35.83.

Weyerhaeuser Price Performance

WY opened at $33.70 on Wednesday. The company has a market capitalization of $24.51 billion, a price-to-earnings ratio of 30.64 and a beta of 1.40. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $31.40 and a 200-day moving average price of $31.12. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter last year, the business posted $0.32 earnings per share. Weyerhaeuser’s revenue was up 3.1% compared to the same quarter last year. Equities analysts expect that Weyerhaeuser will post 0.52 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a $0.20 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.37%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 72.73%.

Insider Activity

In related news, Director James Calvin O’rourke bought 7,800 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director James Calvin O’rourke bought 7,800 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Albert Monaco bought 31,500 shares of the company’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $31.38 per share, with a total value of $988,470.00. Following the completion of the transaction, the director now owns 70,726 shares of the company’s stock, valued at $2,219,381.88. The disclosure for this purchase can be found here. 0.27% of the stock is owned by company insiders.

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.