1. Weyerhaeuser Company (NYSE:WY)
Number of Hedge Fund Holders: 30
Established in 1900, Weyerhaeuser Company (NYSE:WY) is a prominent entity in the timber industry and stands as one of the largest private owners of timberlands worldwide. With its vast holdings, the company possesses ownership or control over millions of acres of timberlands in the United States, while also managing additional timberlands in Canada through long-term licensing agreements. It is one of the best land and timber stocks to invest in.
On May 12, Weyerhaeuser Company (NYSE:WY) declared a quarterly dividend of $0.19 per share, in line with previous. The dividend is payable on June 16, to shareholders of record on June 2.
DA Davidson analyst Kurt Yinger upgraded Weyerhaeuser Company (NYSE:WY) on April 10 to Buy from Neutral with a price target of $35, up from $34. The analyst believes that with commodity wood product prices stabilizing at lower levels, there is potential for an upward trajectory. The firm also highlighted that expectations for Weyerhaeuser Company (NYSE:WY) have been appropriately adjusted, and the recent decline in the stock price over the past two months presents an appealing opportunity for investors to enter the market.
According to Insider Monkey’s first quarter database, 30 hedge funds were bullish on Weyerhaeuser Company (NYSE:WY), compared to 29 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the largest position holder in the company.
Here is what Third Avenue Management has to say about Weyerhaeuser Company (NYSE:WY) in its Q3 2020 investor letter:
“Third Avenue has long championed enterprises with sound business practices run by aligned control groups that exhibit strong stewardship. Within Third Avenue’s real estate strategy, this oftentimes leads the Fund to “pass” on investments in companies with uncertain environmental liabilities, business models that could be deemed predatory, and corporate governance structures that are stacked against key stakeholders. Consequently, the select-set of real estate and real estate-related business that make it into the Third Avenue Real Estate Value Fund represent some of the true industry leaders in respect to their ESG practices, including Weyerhaeuser, that own more than 16 million acres of timberlands and sequester more carbon than any other privately-held enterprises globally (to our knowledge)— an underappreciated attribute that may ultimately have incremental value through a carbon-credit initiative or even strategic value for larger enterprises seeking to offset emissions.”
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