Legacy Wealth Asset Management LLC Sells 9,229 Shares of Weyerhaeuser (NYSE:WY)

Legacy Wealth Asset Management LLC lowered its stake in Weyerhaeuser (NYSE:WY) by 51.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,796 shares of the real estate investment trust’s stock after selling 9,229 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Weyerhaeuser were worth $298,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Oakworth Capital Inc. acquired a new stake in Weyerhaeuser in the third quarter valued at approximately $25,000. Ridgewood Investments LLC acquired a new stake in shares of Weyerhaeuser during the 2nd quarter valued at $26,000. Itau Unibanco Holding S.A. bought a new stake in Weyerhaeuser during the 2nd quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Weyerhaeuser by 4,884.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 928 shares in the last quarter. Finally, Park Place Capital Corp raised its position in Weyerhaeuser by 440.5% in the second quarter. Park Place Capital Corp now owns 1,227 shares of the real estate investment trust’s stock valued at $35,000 after purchasing an additional 1,000 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Albert Monaco purchased 31,500 shares of the business’s stock in a transaction on Monday, August 26th. The shares were acquired at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the acquisition, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Weyerhaeuser news, Director Albert Monaco acquired 31,500 shares of the stock in a transaction on Monday, August 26th. The shares were purchased at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the acquisition, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Calvin O’rourke acquired 7,800 shares of Weyerhaeuser stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $32.01 per share, with a total value of $249,678.00. Following the completion of the acquisition, the director now directly owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by company insiders.

Weyerhaeuser Trading Down 1.0 %

Shares of WY stock opened at $31.80 on Friday. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.58 and a current ratio of 2.19. The stock has a 50 day simple moving average of $32.05 and a two-hundred day simple moving average of $30.84. The company has a market cap of $23.18 billion, a P/E ratio of 28.91 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. Weyerhaeuser’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 EPS. Research analysts forecast that Weyerhaeuser will post 0.48 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. Weyerhaeuser’s dividend payout ratio is presently 72.73%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WY. BMO Capital Markets reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, July 30th. Argus raised shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Citigroup decreased their price objective on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Truist Financial lifted their target price on Weyerhaeuser from $31.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, October 15th. Finally, DA Davidson decreased their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $36.33.

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.