FTB Advisors Inc. maintained its position in shares of Weyerhaeuser Co. (NYSE:WY) during the second quarter, Holdings Channel reports. The institutional investor owned 10,185 shares of the real estate investment trust’s stock at the end of the second quarter. FTB Advisors Inc.’s holdings in Weyerhaeuser were worth $304,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its stake in Weyerhaeuser by 55.0% in the first quarter. State Street Corp now owns 33,117,766 shares of the real estate investment trust’s stock worth $1,025,997,000 after buying an additional 11,754,704 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Weyerhaeuser by 52.3% in the first quarter. Geode Capital Management LLC now owns 7,310,636 shares of the real estate investment trust’s stock valued at $226,081,000 after buying an additional 2,509,165 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of Weyerhaeuser by 27.5% in the first quarter. Pictet Asset Management Ltd. now owns 4,580,198 shares of the real estate investment trust’s stock valued at $118,994,000 after buying an additional 987,656 shares during the period. Legal & General Group Plc boosted its stake in shares of Weyerhaeuser by 51.3% in the first quarter. Legal & General Group Plc now owns 3,589,855 shares of the real estate investment trust’s stock valued at $111,214,000 after buying an additional 1,217,641 shares during the period. Finally, Hamlin Capital Management LLC boosted its stake in shares of Weyerhaeuser by 1.9% in the second quarter. Hamlin Capital Management LLC now owns 2,214,187 shares of the real estate investment trust’s stock valued at $65,916,000 after buying an additional 42,132 shares during the period. 75.73% of the stock is owned by institutional investors.
Weyerhaeuser Co. (NYSE:WY) traded up 0.80% during midday trading on Friday, reaching $31.45. 1,755,443 shares of the company’s stock were exchanged. Weyerhaeuser Co. has a 12 month low of $22.06 and a 12 month high of $33.17. The firm has a 50 day moving average of $31.22 and a 200-day moving average of $31.17. The stock has a market cap of $23.55 billion, a PE ratio of 40.53 and a beta of 1.39.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.21 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $7.54 billion. Weyerhaeuser had a net margin of 7.24% and a return on equity of 8.35%. Weyerhaeuser’s revenue for the quarter was up 23.0% compared to the same quarter last year. During the same period last year, the company earned $0.26 earnings per share. On average, equities research analysts predict that Weyerhaeuser Co. will post $1.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 3.97%. The ex-dividend date was Wednesday, September 7th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 158.98%.
WY has been the subject of several analyst reports. DA Davidson cut shares of Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Monday, August 8th. Zacks Investment Research upgraded shares of Weyerhaeuser from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, July 19th. Dundee Securities cut shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a research note on Friday, August 12th. Argus reiterated a “buy” rating and issued a $35.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, September 20th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Weyerhaeuser in a research note on Thursday, September 22nd. They issued a “buy” rating and a $37.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $35.38.
In other news, Director Rick R. Holley sold 608,000 shares of the stock in a transaction dated Tuesday, July 26th. The shares were sold at an average price of $32.55, for a total value of $19,790,400.00. Following the sale, the director now directly owns 696,488 shares of the company’s stock, valued at $22,670,684.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Denise M. Merle sold 15,049 shares of the stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $31.12, for a total transaction of $468,324.88. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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