State Street Corp decreased its position in shares of Weyerhaeuser (NYSE:WY) by 6.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,765,214 shares of the real estate investment trust’s stock after selling 2,045,903 shares during the period. State Street Corp owned 3.85% of Weyerhaeuser worth $820,384,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Winslow Evans & Crocker Inc. purchased a new position in shares of Weyerhaeuser during the 3rd quarter worth $29,000. Cigna Investments Inc. New boosted its holdings in Weyerhaeuser by 120.2% during the 2nd quarter. Cigna Investments Inc. New now owns 46,112 shares of the real estate investment trust’s stock valued at $1,035,000 after acquiring an additional 25,170 shares during the period. Retirement Systems of Alabama boosted its holdings in Weyerhaeuser by 16.1% during the 2nd quarter. Retirement Systems of Alabama now owns 631,902 shares of the real estate investment trust’s stock valued at $14,193,000 after acquiring an additional 87,706 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in Weyerhaeuser by 317.6% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 22,325 shares of the real estate investment trust’s stock valued at $637,000 after acquiring an additional 16,979 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Weyerhaeuser by 39.3% during the 2nd quarter. Fisher Asset Management LLC now owns 58,797 shares of the real estate investment trust’s stock valued at $1,321,000 after acquiring an additional 16,579 shares during the period. Institutional investors own 77.46% of the company’s stock.
A number of brokerages recently commented on WY. BMO Capital Markets raised their target price on Weyerhaeuser from $23.00 to $32.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. Raymond James restated a “hold” rating on shares of Weyerhaeuser in a report on Monday, September 14th. Royal Bank of Canada raised their target price on Weyerhaeuser from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, August 3rd. DA Davidson cut Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $29.00 price objective for the company. in a research note on Monday, August 3rd. Finally, Bank of America lifted their price objective on Weyerhaeuser from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Friday, September 11th. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $29.25.
In other Weyerhaeuser news, SVP James A. Kilberg sold 35,000 shares of Weyerhaeuser stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $30.50, for a total transaction of $1,067,500.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Nicole Weyerhaeuser Piasecki sold 34,400 shares of Weyerhaeuser stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $28.62, for a total value of $984,528.00. Following the transaction, the director now directly owns 25,001 shares in the company, valued at approximately $715,528.62. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.
Shares of NYSE WY opened at $28.75 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.72 and a current ratio of 2.28. Weyerhaeuser has a fifty-two week low of $13.10 and a fifty-two week high of $31.58. The firm has a market capitalization of $21.46 billion, a PE ratio of 70.12 and a beta of 1.96. The stock’s 50-day simple moving average is $28.88 and its 200-day simple moving average is $25.84.
Weyerhaeuser (NYSE:WY) last issued its earnings results on Wednesday, November 4th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.13. Weyerhaeuser had a return on equity of 3.59% and a net margin of 4.67%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $0.08 EPS. The business’s quarterly revenue was up 26.3% on a year-over-year basis. On average, sell-side analysts forecast that Weyerhaeuser will post 0.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, December 3rd. Weyerhaeuser’s dividend payout ratio (DPR) is presently 174.36%.
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.
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