Weyerhaeuser (NYSE:WY) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its position in shares of Weyerhaeuser (NYSE:WY) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,262 shares of the real estate investment trust’s stock after selling 2,332 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Weyerhaeuser were worth $1,274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Meeder Asset Management Inc. increased its stake in Weyerhaeuser by 172.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock worth $38,000 after buying an additional 719 shares during the period. Asset Planning Inc acquired a new position in shares of Weyerhaeuser in the fourth quarter worth $36,000. Capital Performance Advisors LLP purchased a new stake in shares of Weyerhaeuser during the third quarter worth $50,000. AdvisorNet Financial Inc raised its stake in shares of Weyerhaeuser by 41.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,665 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 486 shares in the last quarter. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Weyerhaeuser by 165.6% in the third quarter. Catalyst Capital Advisors LLC now owns 1,971 shares of the real estate investment trust’s stock valued at $67,000 after acquiring an additional 1,229 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of NYSE:WY opened at $31.44 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The firm has a market capitalization of $22.81 billion, a P/E ratio of 57.16, a P/E/G ratio of 4.74 and a beta of 1.42. The company’s fifty day moving average price is $29.49 and its 200 day moving average price is $30.80.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. As a group, sell-side analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be paid a $0.21 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.84 dividend on an annualized basis and a yield of 2.67%. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. Weyerhaeuser’s payout ratio is currently 152.73%.

Analyst Upgrades and Downgrades

WY has been the topic of several recent research reports. Citigroup cut their price target on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Cibc World Mkts upgraded shares of Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. BMO Capital Markets upgraded shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research note on Friday, December 6th. Truist Financial lowered their price target on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective on the stock in a report on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $35.00.

About Weyerhaeuser

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.