Weyerhaeuser Company $WY Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 13.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,177 shares of the real estate investment trust’s stock after selling 30,052 shares during the period. State of Michigan Retirement System’s holdings in Weyerhaeuser were worth $5,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DAVENPORT & Co LLC boosted its position in Weyerhaeuser by 8.0% during the first quarter. DAVENPORT & Co LLC now owns 19,932 shares of the real estate investment trust’s stock worth $584,000 after purchasing an additional 1,480 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Weyerhaeuser during the first quarter worth $3,110,000. World Investment Advisors purchased a new stake in Weyerhaeuser during the first quarter worth $1,254,000. Bank of New York Mellon Corp raised its position in Weyerhaeuser by 63.9% during the first quarter. Bank of New York Mellon Corp now owns 7,265,484 shares of the real estate investment trust’s stock worth $212,733,000 after acquiring an additional 2,833,288 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in Weyerhaeuser by 3.5% during the first quarter. Envestnet Asset Management Inc. now owns 520,443 shares of the real estate investment trust’s stock worth $15,239,000 after acquiring an additional 17,748 shares during the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Insiders Place Their Bets

In other Weyerhaeuser news, Director Sara Grootwassink Lewis bought 4,000 shares of Weyerhaeuser stock in a transaction that occurred on Monday, August 11th. The shares were purchased at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the transaction, the director owned 21,478 shares of the company’s stock, valued at $543,178.62. This represents a 22.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WY. Weiss Ratings restated a “hold (c-)” rating on shares of Weyerhaeuser in a research report on Wednesday, October 8th. Truist Financial cut their target price on shares of Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Wall Street Zen cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Sunday, August 3rd. Royal Bank Of Canada cut their target price on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday. Finally, DA Davidson reduced their price objective on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.00.

Weyerhaeuser Stock Up 0.4%

Shares of NYSE:WY opened at $22.60 on Wednesday. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 52-week low of $22.28 and a 52-week high of $32.70. The stock’s fifty day simple moving average is $24.48 and its 200-day simple moving average is $25.46. The company has a market capitalization of $16.30 billion, a P/E ratio of 59.47, a P/E/G ratio of 244.04 and a beta of 1.05.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.13. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business earned $0.05 earnings per share. The business’s revenue was up 12.1% on a year-over-year basis. As a group, equities research analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were given a dividend of $0.21 per share. The ex-dividend date was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.7%. Weyerhaeuser’s dividend payout ratio is 186.67%.

Weyerhaeuser Profile

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.