Wells Fargo & Company MN cut its holdings in Weyerhaeuser Co (NYSE:WY) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,478,812 shares of the real estate investment trust’s stock after selling 217,114 shares during the quarter. Wells Fargo & Company MN owned about 0.46% of Weyerhaeuser worth $112,262,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Renaissance Technologies LLC acquired a new position in shares of Weyerhaeuser during the second quarter worth about $82,829,000. BlackRock Inc. grew its position in Weyerhaeuser by 2.4% during the second quarter. BlackRock Inc. now owns 51,753,003 shares of the real estate investment trust’s stock worth $1,886,914,000 after buying an additional 1,220,115 shares during the period. First Republic Investment Management Inc. acquired a new position in Weyerhaeuser during the second quarter worth about $39,730,000. Schwab Charles Investment Management Inc. grew its position in Weyerhaeuser by 40.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 3,745,181 shares of the real estate investment trust’s stock worth $136,550,000 after buying an additional 1,085,567 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec grew its position in Weyerhaeuser by 2,860.1% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 930,847 shares of the real estate investment trust’s stock worth $33,939,000 after buying an additional 899,400 shares during the period. Institutional investors own 75.92% of the company’s stock.
Several brokerages have issued reports on WY. Argus reduced their price target on shares of Weyerhaeuser from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Tuesday, November 20th. Zacks Investment Research reaffirmed a “strong sell” rating on shares of Weyerhaeuser in a report on Saturday, November 17th. Scotiabank reissued a “hold” rating and set a $32.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, November 13th. TheStreet downgraded shares of Weyerhaeuser from a “b-” rating to a “c+” rating in a research note on Monday, November 5th. Finally, BMO Capital Markets reduced their price objective on shares of Weyerhaeuser from $36.00 to $33.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Weyerhaeuser has an average rating of “Hold” and an average price target of $34.57.
In other news, insider Devin W. Stockfish purchased 27,890 shares of the stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average cost of $26.93 per share, with a total value of $751,077.70. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.
Shares of Weyerhaeuser stock traded down $1.38 during trading hours on Wednesday, hitting $25.12. The company’s stock had a trading volume of 7,681,866 shares, compared to its average volume of 3,843,260. Weyerhaeuser Co has a 1-year low of $25.10 and a 1-year high of $38.39. The firm has a market capitalization of $19.79 billion, a P/E ratio of 21.84, a PEG ratio of 4.32 and a beta of 1.50. The company has a quick ratio of 1.04, a current ratio of 1.35 and a debt-to-equity ratio of 0.65.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Friday, October 26th. The real estate investment trust reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.11). The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. Weyerhaeuser had a return on equity of 11.65% and a net margin of 14.51%. Weyerhaeuser’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. On average, research analysts expect that Weyerhaeuser Co will post 1.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 30th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date of this dividend is Thursday, November 29th. Weyerhaeuser’s payout ratio is 118.26%.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.4 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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