DAVENPORT & Co LLC Trims Stake in Weyerhaeuser Company $WY

DAVENPORT & Co LLC decreased its position in shares of Weyerhaeuser Company (NYSE:WY) by 5.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 18,863 shares of the real estate investment trust’s stock after selling 1,069 shares during the period. DAVENPORT & Co LLC’s holdings in Weyerhaeuser were worth $485,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. GKV Capital Management Co. Inc. purchased a new position in shares of Weyerhaeuser during the 1st quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC purchased a new position in shares of Weyerhaeuser during the 1st quarter worth approximately $31,000. Costello Asset Management INC purchased a new position in shares of Weyerhaeuser during the 1st quarter worth approximately $32,000. Marshall Investment Management LLC purchased a new position in shares of Weyerhaeuser during the 1st quarter worth approximately $36,000. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Weyerhaeuser during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

Shares of WY opened at $23.95 on Monday. The business’s fifty day simple moving average is $25.30 and its two-hundred day simple moving average is $25.84. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 12 month low of $23.92 and a 12 month high of $33.56. The company has a market cap of $17.28 billion, a price-to-earnings ratio of 63.03, a P/E/G ratio of 210.53 and a beta of 1.05.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. Weyerhaeuser had a return on equity of 2.95% and a net margin of 3.97%.The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period last year, the business posted $0.21 EPS. The company’s revenue was down 2.8% compared to the same quarter last year. Research analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 29th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date was Friday, August 29th. Weyerhaeuser’s dividend payout ratio (DPR) is currently 221.05%.

Insider Buying and Selling

In other Weyerhaeuser news, Director Sara Grootwassink Lewis bought 4,000 shares of the business’s stock in a transaction on Monday, August 11th. The shares were acquired at an average cost of $25.29 per share, for a total transaction of $101,160.00. Following the purchase, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on WY. Truist Financial reduced their target price on Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, July 28th. DA Davidson restated a “buy” rating and issued a $35.00 price target on shares of Weyerhaeuser in a research note on Monday, September 29th. JPMorgan Chase & Co. cut their price target on Weyerhaeuser from $32.00 to $31.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 17th. Wall Street Zen downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Weyerhaeuser in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.88.

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.