KLP Kapitalforvaltning AS Invests $11.15 Million in Weyerhaeuser (NYSE:WY)

KLP Kapitalforvaltning AS purchased a new stake in shares of Weyerhaeuser (NYSE:WY) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 396,081 shares of the real estate investment trust’s stock, valued at approximately $11,150,000.

Several other institutional investors also recently modified their holdings of WY. Fiduciary Trust Co lifted its stake in Weyerhaeuser by 0.6% during the 3rd quarter. Fiduciary Trust Co now owns 53,185 shares of the real estate investment trust’s stock valued at $1,801,000 after acquiring an additional 331 shares during the period. HB Wealth Management LLC lifted its position in Weyerhaeuser by 2.4% during the fourth quarter. HB Wealth Management LLC now owns 15,041 shares of the real estate investment trust’s stock valued at $423,000 after purchasing an additional 357 shares during the period. Integrated Wealth Concepts LLC boosted its holdings in Weyerhaeuser by 2.5% in the third quarter. Integrated Wealth Concepts LLC now owns 15,291 shares of the real estate investment trust’s stock worth $518,000 after purchasing an additional 367 shares during the last quarter. GAMMA Investing LLC grew its position in Weyerhaeuser by 3.7% in the 4th quarter. GAMMA Investing LLC now owns 12,715 shares of the real estate investment trust’s stock worth $358,000 after purchasing an additional 448 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Weyerhaeuser by 9.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 4,976 shares of the real estate investment trust’s stock valued at $140,000 after buying an additional 448 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the company. BMO Capital Markets raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a report on Friday, December 6th. Raymond James upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Monday, December 23rd. Truist Financial lowered their price objective on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Cibc World Mkts upgraded shares of Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Citigroup decreased their price target on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

Weyerhaeuser Stock Performance

WY opened at $29.55 on Tuesday. The firm has a market cap of $21.44 billion, a P/E ratio of 53.72, a PEG ratio of 4.74 and a beta of 1.43. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27. The company has a 50 day simple moving average of $30.04 and a two-hundred day simple moving average of $30.74. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. Equities analysts forecast that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.84%. Weyerhaeuser’s payout ratio is currently 152.73%.

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.