Weyerhaeuser (NYSE:WY) Stock Holdings Lessened by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in shares of Weyerhaeuser (NYSE:WY) by 4.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 172,058 shares of the real estate investment trust’s stock after selling 8,539 shares during the period. Corebridge Financial Inc.’s holdings in Weyerhaeuser were worth $4,843,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. United Services Automobile Association increased its position in Weyerhaeuser by 11.6% in the 4th quarter. United Services Automobile Association now owns 16,453 shares of the real estate investment trust’s stock worth $463,000 after purchasing an additional 1,704 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in Weyerhaeuser by 2.3% in the fourth quarter. Congress Wealth Management LLC DE now owns 55,426 shares of the real estate investment trust’s stock worth $1,560,000 after buying an additional 1,253 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Weyerhaeuser during the fourth quarter valued at approximately $11,150,000. Sei Investments Co. lifted its stake in Weyerhaeuser by 30.5% in the fourth quarter. Sei Investments Co. now owns 3,150,216 shares of the real estate investment trust’s stock valued at $88,678,000 after acquiring an additional 736,691 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Weyerhaeuser by 31.2% in the fourth quarter. American Century Companies Inc. now owns 342,740 shares of the real estate investment trust’s stock worth $9,648,000 after acquiring an additional 81,484 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 0.7 %

WY opened at $29.38 on Friday. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.10. The business has a 50 day moving average of $30.02 and a 200-day moving average of $30.71. The stock has a market capitalization of $21.32 billion, a price-to-earnings ratio of 53.41, a P/E/G ratio of 4.74 and a beta of 1.43. The company has a current ratio of 1.79, a quick ratio of 1.17 and a debt-to-equity ratio of 0.50.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. As a group, sell-side analysts anticipate that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a $0.21 dividend. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, March 7th. This represents a $0.84 annualized dividend and a yield of 2.86%. Weyerhaeuser’s dividend payout ratio is 152.73%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WY shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of Weyerhaeuser in a research note on Monday, February 3rd. CIBC raised Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price target for the company in a research report on Wednesday, January 15th. Citigroup lowered their price objective on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a report on Wednesday, January 15th. Truist Financial reduced their target price on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, Raymond James raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Weyerhaeuser presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

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.