Covestor Ltd Trims Stake in Weyerhaeuser (NYSE:WY)

Covestor Ltd cut its stake in shares of Weyerhaeuser (NYSE:WY) by 25.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,347 shares of the real estate investment trust’s stock after selling 467 shares during the quarter. Covestor Ltd’s holdings in Weyerhaeuser were worth $46,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WY. Oakworth Capital Inc. acquired a new stake in Weyerhaeuser in the third quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new position in Weyerhaeuser in the second quarter valued at $26,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Weyerhaeuser in the second quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Weyerhaeuser by 4,884.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 928 shares during the period. Finally, Park Place Capital Corp boosted its position in Weyerhaeuser by 440.5% during the second quarter. Park Place Capital Corp now owns 1,227 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,000 shares during the last quarter. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Stock Performance

Shares of NYSE WY opened at $30.93 on Friday. The company has a market cap of $22.47 billion, a PE ratio of 41.88 and a beta of 1.40. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41. The company has a 50-day simple moving average of $32.30 and a 200-day simple moving average of $30.78.

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

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a $0.20 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. Weyerhaeuser’s payout ratio is 108.11%.

Insider Activity at Weyerhaeuser

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WY shares. Citigroup decreased their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. StockNews.com cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Monday, October 28th. DA Davidson decreased their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. Finally, Royal Bank of Canada raised their price objective on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.33.

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.