Welch & Forbes LLC cut its holdings in shares of Weyerhaeuser Co (NYSE:WY) by 9.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,690 shares of the real estate investment trust’s stock after selling 1,267 shares during the quarter. Welch & Forbes LLC’s holdings in Weyerhaeuser were worth $278,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of Weyerhaeuser by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 358,421 shares of the real estate investment trust’s stock worth $13,067,000 after buying an additional 23,693 shares during the last quarter. Schroder Investment Management Group lifted its position in Weyerhaeuser by 5.9% during the second quarter. Schroder Investment Management Group now owns 212,487 shares of the real estate investment trust’s stock worth $7,673,000 after acquiring an additional 11,837 shares during the last quarter. Atria Investments LLC lifted its position in Weyerhaeuser by 36.3% during the third quarter. Atria Investments LLC now owns 9,161 shares of the real estate investment trust’s stock worth $296,000 after acquiring an additional 2,441 shares during the last quarter. Bank of Montreal Can lifted its position in Weyerhaeuser by 12.8% during the third quarter. Bank of Montreal Can now owns 1,067,629 shares of the real estate investment trust’s stock worth $34,454,000 after acquiring an additional 120,969 shares during the last quarter. Finally, First Manhattan Co. lifted its position in Weyerhaeuser by 102.0% during the third quarter. First Manhattan Co. now owns 20,200 shares of the real estate investment trust’s stock worth $651,000 after acquiring an additional 10,200 shares during the last quarter. 75.46% of the stock is currently owned by hedge funds and other institutional investors.
WY has been the subject of several research reports. Bank of America downgraded shares of Weyerhaeuser to a “hold” rating and set a $35.00 price objective for the company. in a research report on Thursday, December 20th. Raymond James set a $29.00 target price on shares of Weyerhaeuser and gave the stock a “buy” rating in a report on Tuesday, January 8th. Seaport Global Securities began coverage on shares of Weyerhaeuser in a report on Wednesday, January 23rd. They set a “buy” rating and a $30.00 target price on the stock. ValuEngine raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. Finally, DA Davidson raised shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $37.50 to $35.00 in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $33.33.
Weyerhaeuser (NYSE:WY) last announced its earnings results on Friday, February 1st. The real estate investment trust reported $0.10 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.01). The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.71 billion. Weyerhaeuser had a return on equity of 9.80% and a net margin of 10.01%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.31 earnings per share. Equities research analysts predict that Weyerhaeuser Co will post 0.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 1st will be paid a $0.34 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.36 dividend on an annualized basis and a yield of 5.39%. Weyerhaeuser’s dividend payout ratio (DPR) is 115.25%.
In related news, insider Russell S. Hagen sold 8,000 shares of Weyerhaeuser stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $26.32, for a total value of $210,560.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.
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Weyerhaeuser Company Profile
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.2 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.
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