CIBC Asset Management Inc Acquires 4,733 Shares of Weyerhaeuser (NYSE:WY)

CIBC Asset Management Inc raised its holdings in shares of Weyerhaeuser (NYSE:WY) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,135 shares of the real estate investment trust’s stock after acquiring an additional 4,733 shares during the quarter. CIBC Asset Management Inc’s holdings in Weyerhaeuser were worth $3,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of WY. Wellington Management Group LLP grew its position in shares of Weyerhaeuser by 12.7% during the 3rd quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust’s stock valued at $1,210,694,000 after purchasing an additional 4,035,048 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Weyerhaeuser by 257.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock valued at $151,437,000 after purchasing an additional 3,220,235 shares in the last quarter. Daiwa Securities Group Inc. grew its position in shares of Weyerhaeuser by 2,664.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock valued at $74,355,000 after purchasing an additional 2,116,520 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Weyerhaeuser during the 3rd quarter valued at $40,773,000. Finally, Van ECK Associates Corp grew its position in shares of Weyerhaeuser by 2,221.8% during the 3rd quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust’s stock valued at $39,674,000 after purchasing an additional 1,191,983 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Analysts Set New Price Targets

WY has been the subject of several research reports. BMO Capital Markets upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Friday, December 6th. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 target price on shares of Weyerhaeuser in a research report on Monday, February 3rd. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 target price for the company in a research report on Wednesday, January 15th. Raymond James upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Monday, December 23rd. Finally, Truist Financial cut their target price on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Weyerhaeuser Stock Performance

NYSE WY opened at $29.94 on Friday. The company has a 50-day simple moving average of $29.27 and a two-hundred day simple moving average of $30.83. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $36.27. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 54.43, a PEG ratio of 4.70 and a beta of 1.42.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 EPS for the quarter, beating the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. On average, equities analysts forecast that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 7th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.81%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, March 7th. Weyerhaeuser’s dividend payout ratio is 145.46%.

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.