Summit Global Investments Sells 4,348 Shares of Weyerhaeuser (NYSE:WY)

Summit Global Investments reduced its position in Weyerhaeuser (NYSE:WY) by 16.8% during the second quarter, Holdings Channel reports. The institutional investor owned 21,603 shares of the real estate investment trust’s stock after selling 4,348 shares during the quarter. Summit Global Investments’ holdings in Weyerhaeuser were worth $613,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of WY. State Board of Administration of Florida Retirement System raised its position in shares of Weyerhaeuser by 3.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 896,881 shares of the real estate investment trust’s stock valued at $32,207,000 after purchasing an additional 31,355 shares during the last quarter. Slagle Financial LLC raised its position in shares of Weyerhaeuser by 101.7% in the 4th quarter. Slagle Financial LLC now owns 114,270 shares of the real estate investment trust’s stock valued at $3,973,000 after purchasing an additional 57,608 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Weyerhaeuser by 1,548.8% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 79,850 shares of the real estate investment trust’s stock valued at $2,776,000 after purchasing an additional 75,007 shares during the last quarter. M&G Plc raised its position in shares of Weyerhaeuser by 16.2% in the 2nd quarter. M&G Plc now owns 1,961,969 shares of the real estate investment trust’s stock valued at $54,935,000 after purchasing an additional 273,291 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in shares of Weyerhaeuser by 243.3% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,530 shares of the real estate investment trust’s stock valued at $12,300,000 after purchasing an additional 242,744 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Insider Activity at Weyerhaeuser

In related news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of Weyerhaeuser stock in a transaction on Friday, June 7th. The shares were sold at an average price of $29.40, for a total value of $169,814.40. Following the sale, the director now owns 5,790 shares of the company’s stock, valued at approximately $170,226. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WY has been the subject of several research analyst reports. Truist Financial decreased their price objective on shares of Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Monday, July 29th. BMO Capital Markets reissued a “market perform” rating and set a $38.00 price target on shares of Weyerhaeuser in a research report on Tuesday, July 30th. DA Davidson reduced their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. Finally, Citigroup reduced their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $35.83.

Weyerhaeuser Stock Performance

Shares of NYSE WY traded down $0.07 during midday trading on Tuesday, reaching $30.11. 3,661,213 shares of the stock were exchanged, compared to its average volume of 3,572,423. The firm has a market cap of $21.90 billion, a price-to-earnings ratio of 27.37 and a beta of 1.39. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The firm has a 50-day simple moving average of $29.57 and a two-hundred day simple moving average of $31.54. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.48.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.98 billion. Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. Weyerhaeuser’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. As a group, analysts anticipate that Weyerhaeuser will post 0.59 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. Weyerhaeuser’s dividend payout ratio is currently 72.73%.

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.