Cubist Systematic Strategies LLC Buys New Shares in Weyerhaeuser (NYSE:WY)

Cubist Systematic Strategies LLC purchased a new stake in Weyerhaeuser (NYSE:WY) in the second quarter, HoldingsChannel reports. The fund purchased 22,286 shares of the real estate investment trust’s stock, valued at approximately $633,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System lifted its stake in shares of Weyerhaeuser by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 896,881 shares of the real estate investment trust’s stock valued at $32,207,000 after buying an additional 31,355 shares during the period. Slagle Financial LLC raised its holdings in Weyerhaeuser by 101.7% in the 4th quarter. Slagle Financial LLC now owns 114,270 shares of the real estate investment trust’s stock valued at $3,973,000 after acquiring an additional 57,608 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its position in shares of Weyerhaeuser by 1,548.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 79,850 shares of the real estate investment trust’s stock worth $2,776,000 after acquiring an additional 75,007 shares during the period. M&G Plc grew its holdings in shares of Weyerhaeuser by 16.2% during the 2nd quarter. M&G Plc now owns 1,961,969 shares of the real estate investment trust’s stock worth $54,935,000 after purchasing an additional 273,291 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Weyerhaeuser by 243.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,530 shares of the real estate investment trust’s stock valued at $12,300,000 after purchasing an additional 242,744 shares during the period. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 2.1 %

NYSE WY opened at $32.93 on Friday. The stock’s 50 day simple moving average is $31.52 and its 200 day simple moving average is $31.15. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The firm has a market cap of $24.01 billion, a PE ratio of 29.94 and a beta of 1.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.19 and a quick ratio of 1.58.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the company posted $0.32 EPS. Weyerhaeuser’s revenue for the quarter was up 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that Weyerhaeuser will post 0.52 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.43%. Weyerhaeuser’s payout ratio is 72.73%.

Insider Activity

In related news, Director James Calvin O’rourke acquired 7,800 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the transaction, the director now directly owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Weyerhaeuser news, Director Albert Monaco bought 31,500 shares of Weyerhaeuser stock in a transaction dated 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 purchase, the director now owns 70,726 shares of the company’s stock, valued at $2,219,381.88. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James Calvin O’rourke purchased 7,800 shares of the stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $32.01 per share, with a total value of $249,678.00. Following the transaction, the director now owns 17,672 shares in the company, valued at $565,680.72. The disclosure for this purchase can be found here. 0.27% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating and issued a $38.00 target price on shares of Weyerhaeuser in a research report on Tuesday, July 30th. Citigroup decreased their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. 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. DA Davidson decreased their price objective on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Finally, Argus raised Weyerhaeuser to a “hold” rating in a report on Friday, August 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $35.83.

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.