Oppenheimer Asset Management Inc. Trims Position in Weyerhaeuser (NYSE:WY)

Oppenheimer Asset Management Inc. trimmed its stake in Weyerhaeuser (NYSE:WY) by 12.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,594 shares of the real estate investment trust’s stock after selling 6,937 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Weyerhaeuser were worth $1,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Avantax Advisory Services Inc. increased its stake in shares of Weyerhaeuser by 24.1% during the first quarter. Avantax Advisory Services Inc. now owns 12,036 shares of the real estate investment trust’s stock valued at $432,000 after buying an additional 2,340 shares during the period. TIAA Trust National Association increased its position in Weyerhaeuser by 14.7% during the 1st quarter. TIAA Trust National Association now owns 6,659 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 854 shares during the period. Jacobi Capital Management LLC lifted its position in shares of Weyerhaeuser by 6.6% in the 1st quarter. Jacobi Capital Management LLC now owns 6,590 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 406 shares during the period. Covestor Ltd boosted its stake in shares of Weyerhaeuser by 382.0% during the first quarter. Covestor Ltd now owns 2,487 shares of the real estate investment trust’s stock valued at $89,000 after purchasing an additional 1,971 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in Weyerhaeuser by 268.1% during the first quarter. Clearbridge Investments LLC now owns 64,403 shares of the real estate investment trust’s stock valued at $2,313,000 after buying an additional 46,905 shares during the period. 82.99% of the stock is currently owned by institutional investors.

Weyerhaeuser Price Performance

Shares of WY opened at $30.93 on Monday. 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’s fifty day moving average price is $32.31 and its 200-day moving average price is $30.79. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27. The firm has a market capitalization of $22.47 billion, a PE ratio of 41.80 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results 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. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same quarter in the previous year, the business earned $0.33 EPS. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. On average, equities research analysts predict that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Friday, November 29th. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WY. BMO Capital Markets reiterated a “market perform” rating and issued a $38.00 price target on shares of Weyerhaeuser in a report on Tuesday, July 30th. Citigroup reduced their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company 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. Truist Financial lifted their price target on shares of 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 objective on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $36.33.

Insider Buying and Selling at Weyerhaeuser

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

About Weyerhaeuser

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.