Towne Trust Company N.A Decreases Stake in Weyerhaeuser Company $WY

Towne Trust Company N.A lowered its holdings in Weyerhaeuser Company (NYSE:WY) by 38.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,279 shares of the real estate investment trust’s stock after selling 24,086 shares during the quarter. Towne Trust Company N.A’s holdings in Weyerhaeuser were worth $931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of WY. Goldman Sachs Group Inc. raised its stake in shares of Weyerhaeuser by 18.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after purchasing an additional 346,571 shares during the last quarter. Empowered Funds LLC grew its holdings in shares of Weyerhaeuser by 3.4% in the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock worth $1,348,000 after acquiring an additional 1,498 shares during the period. Intech Investment Management LLC grew its holdings in shares of Weyerhaeuser by 5.9% in the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock worth $1,647,000 after acquiring an additional 3,124 shares during the period. Gamco Investors INC. ET AL bought a new stake in shares of Weyerhaeuser in the second quarter worth $275,000. Finally, Bank of Nova Scotia grew its holdings in shares of Weyerhaeuser by 10.2% in the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after acquiring an additional 8,500 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Wall Street Analysts Forecast Growth

WY has been the subject of several research analyst reports. DA Davidson reaffirmed a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a report on Tuesday, March 31st. Citigroup lifted their price objective on Weyerhaeuser from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Wall Street Zen lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Truist Financial cut their price objective on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Weiss Ratings raised Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $28.75.

Weyerhaeuser Stock Down 2.3%

WY stock opened at $24.22 on Thursday. Weyerhaeuser Company has a twelve month low of $21.16 and a twelve month high of $27.86. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The stock has a market cap of $17.46 billion, a P/E ratio of 55.04, a PEG ratio of 2.60 and a beta of 0.98. The business’s 50-day moving average price is $24.73 and its 200-day moving average price is $24.18.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $1.54 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same period last year, the firm earned $0.11 earnings per share. On average, equities research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 190.91%.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director Richard Beckwitt purchased 20,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were acquired at an average cost of $25.70 per share, with a total value of $514,000.00. Following the completion of the acquisition, the director directly owned 24,066 shares in the company, valued at $618,496.20. The trade was a 491.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Calvin O’rourke purchased 4,000 shares of the firm’s stock in a transaction on Friday, February 20th. The shares were acquired at an average cost of $25.35 per share, for a total transaction of $101,400.00. Following the completion of the acquisition, the director owned 28,661 shares of the company’s stock, valued at approximately $726,556.35. This trade represents a 16.22% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.31% of the stock is owned by company insiders.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.