Patten & Patten Inc. TN Has $1.71 Million Holdings in Weyerhaeuser (NYSE:WY)

Patten & Patten Inc. TN lessened its stake in Weyerhaeuser (NYSE:WY) by 34.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,677 shares of the real estate investment trust’s stock after selling 31,818 shares during the quarter. Patten & Patten Inc. TN’s holdings in Weyerhaeuser were worth $1,708,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Weyerhaeuser by 9.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 38,375 shares of the real estate investment trust’s stock valued at $1,080,000 after purchasing an additional 3,343 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Weyerhaeuser by 9.5% in the 4th quarter. Natixis Advisors LLC now owns 175,250 shares of the real estate investment trust’s stock valued at $4,933,000 after purchasing an additional 15,263 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Weyerhaeuser by 1.1% in the 4th quarter. First Eagle Investment Management LLC now owns 14,362,306 shares of the real estate investment trust’s stock valued at $404,299,000 after purchasing an additional 158,800 shares during the last quarter. Blume Capital Management Inc. boosted its stake in shares of Weyerhaeuser by 0.7% in the 4th quarter. Blume Capital Management Inc. now owns 126,427 shares of the real estate investment trust’s stock valued at $3,559,000 after purchasing an additional 849 shares during the last quarter. Finally, Bowen Hanes & Co. Inc. boosted its stake in Weyerhaeuser by 19.6% during the 4th quarter. Bowen Hanes & Co. Inc. now owns 975,758 shares of the real estate investment trust’s stock worth $27,468,000 after acquiring an additional 160,000 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

Shares of WY opened at $29.53 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The firm’s 50 day moving average price is $29.83 and its two-hundred day moving average price is $30.77. The firm has a market cap of $21.42 billion, a P/E ratio of 53.68, a PEG ratio of 4.74 and a beta of 1.43.

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

Weyerhaeuser Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, March 7th. Weyerhaeuser’s dividend payout ratio is currently 152.73%.

Analysts Set New Price Targets

Several research firms recently weighed in on WY. Truist Financial reduced 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 raised shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective on the stock in a research note on Wednesday, January 15th. BMO Capital Markets raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Friday, December 6th. Cibc World Mkts raised shares of Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Raymond James raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price objective on the stock in a research note on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

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.