Sumitomo Mitsui Trust Group Inc. Sells 20,090 Shares of Weyerhaeuser (NYSE:WY)

Sumitomo Mitsui Trust Group Inc. cut its stake in Weyerhaeuser (NYSE:WY) by 1.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,635,317 shares of the real estate investment trust’s stock after selling 20,090 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of Weyerhaeuser worth $55,372,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Swedbank AB bought a new stake in shares of Weyerhaeuser during the first quarter valued at approximately $106,141,000. Price T Rowe Associates Inc. MD lifted its position in Weyerhaeuser by 5.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock valued at $1,840,807,000 after buying an additional 2,874,101 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after buying an additional 2,004,073 shares in the last quarter. Millennium Management LLC lifted its position in Weyerhaeuser by 512.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after acquiring an additional 1,308,125 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Weyerhaeuser by 2,221.8% during the third quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust’s stock worth $39,674,000 after acquiring an additional 1,191,983 shares in the last quarter. 82.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on WY shares. Royal Bank of Canada lifted their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Truist Financial increased their target price on Weyerhaeuser from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $38.00 price target on shares of Weyerhaeuser in a research report on Tuesday, July 30th. Citigroup cut their price objective on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Monday, October 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $36.33.

Insider Transactions at Weyerhaeuser

In related news, Director James Calvin O’rourke acquired 7,800 shares of Weyerhaeuser stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the purchase, the director now directly owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. This trade represents a 79.01 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Albert Monaco bought 31,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were bought at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the transaction, the director now directly owns 70,726 shares of the company’s stock, valued at $2,219,381.88. This represents a 80.30 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser Stock Up 0.2 %

Shares of Weyerhaeuser stock opened at $30.93 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The company has a market cap of $22.47 billion, a price-to-earnings ratio of 41.80 and a beta of 1.40. The company’s 50 day moving average is $32.30 and its 200 day moving average is $30.78.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. During the same period last year, the business posted $0.33 EPS. Research analysts anticipate that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date is Friday, November 29th. Weyerhaeuser’s payout ratio is currently 108.11%.

Weyerhaeuser Company 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.