Retirement Systems of Alabama lowered its stake in Weyerhaeuser Co. (NYSE:WY) by 4.1% during the second quarter, Holdings Channel reports. The institutional investor owned 380,865 shares of the real estate investment trust’s stock after selling 16,375 shares during the period. Retirement Systems of Alabama’s holdings in Weyerhaeuser were worth $11,338,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Perkins Coie Trust Co boosted its position in Weyerhaeuser by 2.7% in the second quarter. Perkins Coie Trust Co now owns 3,781 shares of the real estate investment trust’s stock valued at $113,000 after buying an additional 100 shares in the last quarter. AXA acquired a new position in Weyerhaeuser during the first quarter valued at about $139,000. Park Avenue Institutional Advisers LLC boosted its position in Weyerhaeuser by 50.2% in the first quarter. Park Avenue Institutional Advisers LLC now owns 4,966 shares of the real estate investment trust’s stock valued at $154,000 after buying an additional 1,660 shares in the last quarter. Kelly Lawrence W & Associates Inc. CA purchased a new stake in Weyerhaeuser during the first quarter valued at $161,000. Finally, Integrated Investment Consultants LLC increased its stake in Weyerhaeuser by 71.3% in the second quarter. Integrated Investment Consultants LLC now owns 5,480 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 2,280 shares during the last quarter. 75.73% of the stock is owned by institutional investors and hedge funds.
Shares of Weyerhaeuser Co. (NYSE:WY) traded down 2.42% during trading on Tuesday, hitting $31.03. The stock had a trading volume of 3,604,038 shares. Weyerhaeuser Co. has a one year low of $22.06 and a one year high of $33.17. The firm’s 50-day moving average is $31.30 and its 200-day moving average is $31.16. The firm has a market cap of $23.23 billion, a P/E ratio of 39.99 and a beta of 1.39.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The company earned $1.41 billion during the quarter, compared to the consensus estimate of $7.54 billion. Weyerhaeuser had a net margin of 7.24% and a return on equity of 8.35%. Weyerhaeuser’s quarterly revenue was up 23.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 EPS. Equities research analysts forecast that Weyerhaeuser Co. will post $1.03 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 9th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, September 7th. This represents a $1.24 annualized dividend and a dividend yield of 4.00%. Weyerhaeuser’s dividend payout ratio is currently 158.98%.
Several analysts have recently weighed in on WY shares. Zacks Investment Research raised Weyerhaeuser from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Tuesday, July 19th. DA Davidson downgraded Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a report on Monday, August 8th. Dundee Securities downgraded Weyerhaeuser from a “buy” rating to a “neutral” rating in a report on Friday, August 12th. Argus reissued a “buy” rating and issued a $35.00 target price on shares of Weyerhaeuser in a report on Tuesday, September 20th. Finally, Goldman Sachs Group Inc. started coverage on Weyerhaeuser in a report on Thursday, September 22nd. They issued a “buy” rating and a $37.00 target price for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $35.38.
In other Weyerhaeuser news, Director Rick R. Holley sold 426,957 shares of Weyerhaeuser stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $32.51, for a total transaction of $13,880,372.07. Following the transaction, the director now directly owns 696,488 shares in the company, valued at approximately $22,642,824.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Rhonda D. Hunter sold 3,318 shares of Weyerhaeuser stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $33.00, for a total transaction of $109,494.00. Following the transaction, the vice president now owns 61,768 shares in the company, valued at $2,038,344. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.
Weyerhaeuser Company Profile
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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