Mirae Asset Global Investments Co. Ltd. Has $1.94 Million Stake in Weyerhaeuser (NYSE:WY)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Weyerhaeuser (NYSE:WY) by 30.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 57,384 shares of the real estate investment trust’s stock after purchasing an additional 13,411 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Weyerhaeuser were worth $1,937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WY. Swedbank AB acquired a new position in Weyerhaeuser during the 1st quarter worth approximately $106,141,000. Price T Rowe Associates Inc. MD increased its stake in Weyerhaeuser by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock valued at $1,840,807,000 after buying an additional 2,874,101 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock worth $291,306,000 after buying an additional 2,004,073 shares in the last quarter. M&G Plc acquired a new position in shares of Weyerhaeuser during the 1st quarter worth about $60,792,000. Finally, Millennium Management LLC grew its holdings in shares of Weyerhaeuser by 512.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after acquiring an additional 1,308,125 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WY. BMO Capital Markets reissued a “market perform” rating and set a $38.00 price target on shares of Weyerhaeuser in a research report on Tuesday, July 30th. StockNews.com downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Monday. Citigroup dropped their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. DA Davidson lowered their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Finally, Argus raised Weyerhaeuser to a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.33.

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $31.73 on Thursday. The firm has a market cap of $23.08 billion, a P/E ratio of 42.88 and a beta of 1.40. The business’s 50 day moving average is $32.12 and its 200-day moving average is $30.80. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 EPS. Equities research analysts predict that Weyerhaeuser will post 0.45 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Friday, August 30th. Weyerhaeuser’s dividend payout ratio is currently 108.11%.

Insiders Place Their Bets

In related news, Director Albert Monaco purchased 31,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was acquired at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the purchase, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James Calvin O’rourke acquired 7,800 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $32.01 per share, with a total value of $249,678.00. Following the completion of the transaction, the director now directly owns 17,672 shares of the company’s stock, valued at $565,680.72. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Albert Monaco bought 31,500 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the acquisition, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.

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.