Whittier Trust Co. reduced its position in Weyerhaeuser Co. (NYSE:WY) by 2.8% during the second quarter, Holdings Channel reports. The fund owned 102,261 shares of the real estate investment trust’s stock after selling 2,981 shares during the period. Whittier Trust Co.’s holdings in Weyerhaeuser were worth $3,044,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. State Street Corp raised its position in shares of 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 during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Weyerhaeuser by 48.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 20,424,048 shares of the real estate investment trust’s stock worth $632,737,000 after buying an additional 6,697,773 shares during the period. Geode Capital Management LLC raised its position 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 worth $226,081,000 after buying an additional 2,509,165 shares during the period. BlackRock Group LTD raised its position in shares of Weyerhaeuser by 43.8% in the first quarter. BlackRock Group LTD now owns 6,396,640 shares of the real estate investment trust’s stock worth $198,169,000 after buying an additional 1,949,821 shares during the period. Finally, 1832 Asset Management L.P. raised its position in shares of Weyerhaeuser by 307,400.0% in the first quarter. 1832 Asset Management L.P. now owns 1,537,500 shares of the real estate investment trust’s stock worth $80,582,000 after buying an additional 1,537,000 shares during the period. Institutional investors and hedge funds own 75.73% of the company’s stock.
Shares of Weyerhaeuser Co. (NYSE:WY) traded down 0.32% on Friday, reaching $31.00. 3,138,419 shares of the company traded hands. The firm’s 50 day moving average is $31.25 and its 200 day moving average is $31.15. The company has a market capitalization of $23.21 billion, a P/E ratio of 39.95 and a beta of 1.39. Weyerhaeuser Co. has a one year low of $22.06 and a one year high of $33.17.
Weyerhaeuser (NYSE:WY) last announced 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 consensus estimate of $0.22 by $0.01. Weyerhaeuser had a net margin of 7.24% and a return on equity of 8.35%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $7.54 billion. During the same period in the prior year, the business earned $0.26 EPS. The company’s revenue for the quarter was up 23.0% compared to the same quarter last year. Analysts expect that Weyerhaeuser Co. will post $1.03 earnings per share for the current fiscal year.
The firm also recently declared 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 4.00%. The ex-dividend date of this dividend was Wednesday, September 7th. Weyerhaeuser’s dividend payout ratio is 158.98%.
Several equities research analysts have issued reports on WY shares. Goldman Sachs Group Inc. started coverage on shares of Weyerhaeuser in a report on Thursday, September 22nd. They issued a “buy” rating and a $37.00 price target on the stock. Argus reissued a “buy” rating and issued a $35.00 price target on shares of Weyerhaeuser in a report on Tuesday, September 20th. Dundee Securities lowered shares of Weyerhaeuser from a “buy” rating to a “neutral” rating in a report on Friday, August 12th. Citigroup Inc. boosted their price target on shares of Weyerhaeuser from $36.00 to $37.00 and gave the company a “buy” rating in a report on Monday, August 8th. Finally, DA Davidson lowered shares of Weyerhaeuser from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $35.38.
In other Weyerhaeuser news, Director Rick R. Holley sold 426,957 shares of the stock in a transaction on Monday, July 25th. The stock was sold at an average price of $32.51, for a total transaction of $13,880,372.07. Following the transaction, the director now owns 696,488 shares in the company, valued at approximately $22,642,824.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jeanne M. Hillman sold 59,686 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $32.58, for a total value of $1,944,569.88. Following the transaction, the vice president now owns 70,651 shares in the company, valued at approximately $2,301,809.58. 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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