Patten Group Inc. Sells 7,660 Shares of Weyerhaeuser Company $WY

Patten Group Inc. reduced its stake in Weyerhaeuser Company (NYSE:WY) by 34.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,633 shares of the real estate investment trust’s stock after selling 7,660 shares during the quarter. Patten Group Inc.’s holdings in Weyerhaeuser were worth $376,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Weyerhaeuser by 23.3% in the first quarter. GAMMA Investing LLC now owns 15,682 shares of the real estate investment trust’s stock worth $459,000 after buying an additional 2,967 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Weyerhaeuser by 2.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 74,154 shares of the real estate investment trust’s stock valued at $2,171,000 after acquiring an additional 1,524 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its holdings in Weyerhaeuser by 2.7% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 21,196 shares of the real estate investment trust’s stock valued at $621,000 after acquiring an additional 559 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in Weyerhaeuser by 9.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 179,703 shares of the real estate investment trust’s stock valued at $5,262,000 after acquiring an additional 15,288 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Weyerhaeuser by 36.6% in the first quarter. Oppenheimer Asset Management Inc. now owns 61,840 shares of the real estate investment trust’s stock valued at $1,811,000 after acquiring an additional 16,578 shares in the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Weyerhaeuser news, Director Sara Grootwassink Lewis bought 4,000 shares of Weyerhaeuser stock in a transaction on Monday, August 11th. The shares were acquired at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the purchase, the director directly owned 21,478 shares in the company, valued at approximately $543,178.62. This trade represents a 22.89% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by insiders.

Weyerhaeuser Stock Performance

NYSE:WY opened at $23.57 on Thursday. The stock’s fifty day moving average is $24.98 and its 200 day moving average is $25.61. Weyerhaeuser Company has a fifty-two week low of $23.23 and a fifty-two week high of $32.70. The firm has a market capitalization of $17.00 billion, a PE ratio of 62.01, a PEG ratio of 249.40 and a beta of 1.05. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share 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 company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the prior year, the firm posted $0.21 EPS. Weyerhaeuser’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current 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 $0.21 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 221.05%.

Analysts Set New Price Targets

Several analysts recently weighed in on WY shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of Weyerhaeuser in a report on Wednesday, October 8th. DA Davidson reissued a “buy” rating and issued a $35.00 target price on shares of Weyerhaeuser in a research report on Monday, September 29th. CIBC reduced their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Thursday, September 11th. Truist Financial reduced their price target on shares of Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Finally, Wall Street Zen downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Sunday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.63.

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.