Granite Investment Partners LLC Trims Holdings in Weyerhaeuser (NYSE:WY)

Granite Investment Partners LLC decreased its stake in shares of Weyerhaeuser (NYSE:WY) by 34.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 82,787 shares of the real estate investment trust’s stock after selling 44,106 shares during the period. Granite Investment Partners LLC’s holdings in Weyerhaeuser were worth $2,330,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its position in shares of Weyerhaeuser by 17.7% in the third quarter. Quantinno Capital Management LP now owns 17,020 shares of the real estate investment trust’s stock valued at $576,000 after acquiring an additional 2,563 shares during the period. MML Investors Services LLC boosted its holdings in Weyerhaeuser by 7.9% in the 3rd quarter. MML Investors Services LLC now owns 76,897 shares of the real estate investment trust’s stock valued at $2,604,000 after purchasing an additional 5,632 shares during the period. Barclays PLC boosted its holdings in Weyerhaeuser by 9.6% in the 3rd quarter. Barclays PLC now owns 1,754,479 shares of the real estate investment trust’s stock valued at $59,406,000 after purchasing an additional 153,919 shares during the period. TD Private Client Wealth LLC grew its position in shares of Weyerhaeuser by 52.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 5,752 shares of the real estate investment trust’s stock valued at $195,000 after purchasing an additional 1,972 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co increased its holdings in shares of Weyerhaeuser by 6.3% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 44,481 shares of the real estate investment trust’s stock worth $1,506,000 after purchasing an additional 2,655 shares during the period. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Trading Down 0.2 %

Shares of WY opened at $25.76 on Monday. Weyerhaeuser has a fifty-two week low of $24.10 and a fifty-two week high of $34.03. The firm has a market cap of $18.69 billion, a price-to-earnings ratio of 46.83, a PEG ratio of 4.74 and a beta of 1.25. The firm has a 50 day moving average price of $29.14 and a 200-day moving average price of $30.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.79.

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

Weyerhaeuser Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a yield of 3.26%. Weyerhaeuser’s dividend payout ratio is currently 152.73%.

Analysts Set New Price Targets

Several equities analysts recently commented on WY shares. Truist Financial reduced their target price on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, January 6th. Cibc World Mkts raised Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Citigroup lowered their target price on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a research note on Wednesday, January 15th. Raymond James raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target for the company in a research note on Monday, December 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Weyerhaeuser in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.50.

Weyerhaeuser 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.