Renaissance Technologies LLC Sells 248,400 Shares of Weyerhaeuser Company $WY

Renaissance Technologies LLC lessened its stake in Weyerhaeuser Company (NYSE:WY) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,310,981 shares of the real estate investment trust’s stock after selling 248,400 shares during the period. Renaissance Technologies LLC’s holdings in Weyerhaeuser were worth $32,027,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WY. FNY Investment Advisers LLC bought a new stake in shares of Weyerhaeuser during the 4th quarter worth $39,000. Addison Advisors LLC grew its position in Weyerhaeuser by 83.4% in the fourth quarter. Addison Advisors LLC now owns 1,665 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 757 shares in the last quarter. Bayban bought a new position in Weyerhaeuser in the fourth quarter valued at $41,000. Costello Asset Management INC increased its stake in Weyerhaeuser by 118.9% in the fourth quarter. Costello Asset Management INC now owns 1,797 shares of the real estate investment trust’s stock valued at $43,000 after acquiring an additional 976 shares during the last quarter. Finally, Lloyd Advisory Services LLC. purchased a new stake in Weyerhaeuser during the fourth quarter valued at about $43,000. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

Shares of NYSE:WY opened at $24.62 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 1.42 and a debt-to-equity ratio of 0.54. The stock has a market cap of $17.76 billion, a PE ratio of 45.60, a PEG ratio of 1.35 and a beta of 0.89. The company’s fifty day moving average is $24.11 and its 200 day moving average is $24.63. Weyerhaeuser Company has a 52 week low of $21.16 and a 52 week high of $27.75.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.07. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.72 billion. During the same period in the prior year, the business posted $0.11 earnings per share. The company’s revenue was down 2.0% on a year-over-year basis. Research analysts anticipate that Weyerhaeuser Company will post 0.3 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Stockholders of record on Friday, June 5th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, June 5th. Weyerhaeuser’s payout ratio is 155.56%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on WY. DA Davidson reaffirmed a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a research note on Tuesday, June 30th. Truist Financial reduced their price objective on Weyerhaeuser from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Wednesday, July 15th. Raymond James Financial raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price objective on the stock in a report on Friday, July 10th. JPMorgan Chase & Co. boosted their target price on Weyerhaeuser from $30.00 to $31.00 and gave the stock an “overweight” rating in a research report on Monday, June 29th. Finally, Wall Street Zen lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $29.00.

Weyerhaeuser Company Profile

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.