Sequoia Financial Advisors LLC cut its holdings in shares of Weyerhaeuser Co (NYSE:WY) by 4.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140,321 shares of the real estate investment trust’s stock after selling 6,771 shares during the period. Sequoia Financial Advisors LLC’s holdings in Weyerhaeuser were worth $3,887,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in Weyerhaeuser by 85.7% in the 3rd quarter. Allworth Financial LP now owns 925 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 427 shares during the last quarter. NuWave Investment Management LLC bought a new position in Weyerhaeuser in the 2nd quarter valued at $30,000. Rational Advisors LLC bought a new position in Weyerhaeuser in the 2nd quarter valued at $30,000. NEXT Financial Group Inc boosted its position in Weyerhaeuser by 197.3% in the 2nd quarter. NEXT Financial Group Inc now owns 1,189 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 789 shares during the last quarter. Finally, Personal Wealth Partners bought a new position in Weyerhaeuser in the 2nd quarter valued at $33,000. Institutional investors and hedge funds own 76.95% of the company’s stock.
WY has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “buy” rating on shares of Weyerhaeuser in a research report on Tuesday, September 17th. ValuEngine raised Weyerhaeuser from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets set a $32.00 price target on Weyerhaeuser and gave the company a “buy” rating in a research note on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $32.67.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Friday, July 26th. The real estate investment trust reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.10 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.73 billion. Weyerhaeuser had a return on equity of 5.47% and a net margin of 0.01%. The firm’s quarterly revenue was down 20.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.44 EPS. As a group, sell-side analysts forecast that Weyerhaeuser Co will post 0.54 EPS for the current fiscal year.
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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