PNC Financial Services Group Inc. Lowers Position in Weyerhaeuser Company (WY)

PNC Financial Services Group Inc. lowered its stake in shares of Weyerhaeuser Company (NYSE:WY) by 2.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 377,142 shares of the real estate investment trust’s stock after selling 7,809 shares during the quarter. PNC Financial Services Group Inc. owned about 0.05% of Weyerhaeuser worth $12,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WY. BlackRock Inc. grew its holdings in shares of Weyerhaeuser by 3,527.2% during the first quarter. BlackRock Inc. now owns 54,673,687 shares of the real estate investment trust’s stock worth $1,857,812,000 after buying an additional 53,166,351 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Weyerhaeuser by 3.4% during the first quarter. Vanguard Group Inc. now owns 47,873,124 shares of the real estate investment trust’s stock worth $1,626,729,000 after buying an additional 1,553,556 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Weyerhaeuser by 8.6% during the second quarter. American Century Companies Inc. now owns 16,124,028 shares of the real estate investment trust’s stock worth $540,155,000 after buying an additional 1,273,679 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Weyerhaeuser by 3.7% during the first quarter. First Eagle Investment Management LLC now owns 35,579,410 shares of the real estate investment trust’s stock worth $1,208,988,000 after buying an additional 1,260,154 shares during the last quarter. Finally, FIL Ltd grew its holdings in shares of Weyerhaeuser by 83.8% during the first quarter. FIL Ltd now owns 2,496,868 shares of the real estate investment trust’s stock worth $84,843,000 after buying an additional 1,138,318 shares during the last quarter. 75.23% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Weyerhaeuser Company (NYSE:WY) opened at 33.40 on Thursday. The firm has a market capitalization of $25.15 billion, a P/E ratio of 26.26 and a beta of 1.39. Weyerhaeuser Company has a 52-week low of $28.58 and a 52-week high of $35.50. The stock’s 50 day moving average is $32.38 and its 200-day moving average is $33.26.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Friday, July 28th. The real estate investment trust reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.81 billion. Weyerhaeuser had a net margin of 14.09% and a return on equity of 7.17%. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.17 EPS. On average, equities analysts forecast that Weyerhaeuser Company will post $1.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Friday, September 8th will be paid a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Thursday, September 7th. Weyerhaeuser’s dividend payout ratio is currently 97.64%.

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A number of research firms recently issued reports on WY. JMP Securities lowered Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $36.00 price target on the stock. in a report on Monday, August 14th. TheStreet lowered Weyerhaeuser from a “b-” rating to a “c+” rating in a report on Friday, August 18th. BMO Capital Markets lowered Weyerhaeuser from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 22nd. ValuEngine raised Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Friday, August 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $37.25.

Weyerhaeuser Company Profile

Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.

Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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