Weyerhaeuser (NYSE:WY) Holdings Trimmed by Citigroup Inc.

Citigroup Inc. cut its holdings in Weyerhaeuser (NYSE:WY) by 24.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 562,038 shares of the real estate investment trust’s stock after selling 186,762 shares during the quarter. Citigroup Inc. owned about 0.08% of Weyerhaeuser worth $19,031,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Raymond James Trust N.A. raised its holdings in shares of Weyerhaeuser by 16.4% in the 3rd quarter. Raymond James Trust N.A. now owns 75,241 shares of the real estate investment trust’s stock worth $2,548,000 after purchasing an additional 10,598 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Weyerhaeuser by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 8,740,119 shares of the real estate investment trust’s stock worth $295,940,000 after buying an additional 454,095 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Weyerhaeuser by 23.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,919,349 shares of the real estate investment trust’s stock valued at $132,709,000 after buying an additional 740,508 shares in the last quarter. Cypress Capital Group acquired a new stake in shares of Weyerhaeuser during the 3rd quarter valued at $231,000. Finally, Intech Investment Management LLC boosted its stake in shares of Weyerhaeuser by 39.1% during the 3rd quarter. Intech Investment Management LLC now owns 28,455 shares of the real estate investment trust’s stock worth $963,000 after acquiring an additional 7,992 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Stock Performance

Shares of WY opened at $31.91 on Wednesday. The company has a market capitalization of $23.18 billion, a PE ratio of 43.11 and a beta of 1.40. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. The company’s 50 day moving average price is $32.24 and its 200 day moving average price is $30.80. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.70 billion. During the same period in the previous year, the company posted $0.33 EPS. Weyerhaeuser’s revenue was down 13.3% on a year-over-year basis. Research analysts expect that Weyerhaeuser will post 0.46 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, November 29th. Weyerhaeuser’s payout ratio is currently 108.11%.

Wall Street Analyst Weigh In

WY has been the subject of several analyst reports. Citigroup reduced their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. BMO Capital Markets reiterated a “market perform” rating and issued a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. StockNews.com downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. Truist Financial raised their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Argus raised shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Weyerhaeuser has an average rating of “Hold” and a consensus price target of $36.33.

Insider Activity

In other Weyerhaeuser news, Director James Calvin O’rourke purchased 7,800 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the acquisition, the director now owns 17,672 shares of the company’s stock, valued at $565,680.72. This trade represents a 79.01 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.30% of the stock is owned by corporate insiders.

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.