Weyerhaeuser Company $WY Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. reduced its stake in Weyerhaeuser Company (NYSE:WY) by 68.7% during the 1st quarter, HoldingsChannel reports. The firm owned 20,236 shares of the real estate investment trust’s stock after selling 44,493 shares during the period. QRG Capital Management Inc.’s holdings in Weyerhaeuser were worth $494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of WY. Nordea Investment Management AB lifted its position in shares of Weyerhaeuser by 2.1% during the 4th quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust’s stock valued at $56,310,000 after acquiring an additional 47,709 shares during the period. Cambria Investment Management L.P. acquired a new stake in shares of Weyerhaeuser in the 3rd quarter worth approximately $1,265,000. CIBC Bancorp USA Inc. purchased a new position in Weyerhaeuser in the 3rd quarter valued at approximately $7,172,000. Tocqueville Asset Management L.P. raised its holdings in Weyerhaeuser by 3.6% during the third quarter. Tocqueville Asset Management L.P. now owns 1,563,118 shares of the real estate investment trust’s stock worth $38,750,000 after purchasing an additional 54,871 shares during the last quarter. Finally, Cantor Fitzgerald Investment Advisors L.P. purchased a new stake in Weyerhaeuser during the fourth quarter worth $7,870,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings lowered Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a research note on Thursday, April 23rd. Truist Financial decreased their price objective on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, April 15th. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Raymond James Financial upgraded shares of Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.11.

Weyerhaeuser Price Performance

WY stock opened at $23.47 on Friday. The stock’s 50 day moving average price is $23.98 and its 200 day moving average price is $24.61. The firm has a market cap of $16.93 billion, a P/E ratio of 43.47, a PEG ratio of 1.26 and a beta of 0.89. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.80 and a current ratio of 1.42. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.75.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the business posted $0.11 earnings per share. Weyerhaeuser’s revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts expect that Weyerhaeuser Company will post 0.32 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 22nd. Investors of record on Friday, June 5th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.6%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 155.56%.

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.