Jupiter Asset Management Ltd. Reduces Holdings in Weyerhaeuser (NYSE:WY)

Jupiter Asset Management Ltd. lessened its position in shares of Weyerhaeuser (NYSE:WY) by 71.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 271,762 shares of the real estate investment trust’s stock after selling 667,938 shares during the period. Jupiter Asset Management Ltd.’s holdings in Weyerhaeuser were worth $9,669,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of WY. Oakworth Capital Inc. bought a new stake in shares of Weyerhaeuser during the 1st quarter valued at $25,000. Wealthcare Capital Management LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth approximately $29,000. Northwest Investment Counselors LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth approximately $30,000. Valley Brook Capital Group purchased a new stake in Weyerhaeuser in the 1st quarter worth approximately $33,000. Finally, Phoenix Wealth Advisors bought a new position in shares of Weyerhaeuser in the 4th quarter worth approximately $34,000. 81.43% of the stock is currently owned by hedge funds and other institutional investors.

NYSE WY opened at $35.00 on Friday. The stock has a market capitalization of $26.22 billion, a P/E ratio of 19.66 and a beta of 1.86. The company has a quick ratio of 1.87, a current ratio of 2.41 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $37.92. Weyerhaeuser has a fifty-two week low of $20.52 and a fifty-two week high of $41.68.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, April 29th. The real estate investment trust reported $0.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.02). The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. Weyerhaeuser had a net margin of 15.98% and a return on equity of 17.31%. Weyerhaeuser’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 earnings per share. Sell-side analysts anticipate that Weyerhaeuser will post 2.79 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 18th. Stockholders of record on Friday, June 4th will be given a $0.17 dividend. The ex-dividend date is Thursday, June 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.94%. Weyerhaeuser’s payout ratio is 52.71%.

In other news, SVP Keith O’rear sold 15,745 shares of Weyerhaeuser stock in a transaction dated Wednesday, May 5th. The stock was sold at an average price of $39.21, for a total value of $617,361.45. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Nancy S. Loewe bought 10,000 shares of Weyerhaeuser stock in a transaction dated Wednesday, May 5th. The stock was purchased at an average cost of $38.56 per share, for a total transaction of $385,600.00. Following the completion of the acquisition, the chief financial officer now directly owns 31,627 shares of the company’s stock, valued at approximately $1,219,537.12. The disclosure for this purchase can be found here. Insiders sold 230,479 shares of company stock worth $9,238,449 over the last 90 days. Company insiders own 0.27% of the company’s stock.

A number of analysts have commented on the company. Raymond James raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and lifted their target price for the stock from $37.00 to $50.00 in a report on Monday, May 3rd. BMO Capital Markets raised their price target on Weyerhaeuser from $40.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, May 3rd. Finally, Stephens restated an “equal weight” rating and issued a $35.00 price target on shares of Weyerhaeuser in a research note on Monday, May 10th. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $34.33.

Weyerhaeuser 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.

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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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