Ingalls & Snyder LLC Lowers Position in Weyerhaeuser (NYSE:WY)

Ingalls & Snyder LLC trimmed its stake in shares of Weyerhaeuser (NYSE:WY) by 17.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,090 shares of the real estate investment trust’s stock after selling 2,955 shares during the period. Ingalls & Snyder LLC’s holdings in Weyerhaeuser were worth $477,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of WY. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Weyerhaeuser by 257.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock valued at $151,437,000 after purchasing an additional 3,220,235 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Weyerhaeuser by 2,664.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock worth $74,355,000 after buying an additional 2,116,520 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Weyerhaeuser by 30.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after buying an additional 2,004,073 shares during the last quarter. Millennium Management LLC grew its holdings in Weyerhaeuser by 512.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after buying an additional 1,308,125 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in Weyerhaeuser by 2,221.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust’s stock worth $39,674,000 after acquiring an additional 1,191,983 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director James Calvin O’rourke bought 7,800 shares of the stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $32.01 per share, with a total value of $249,678.00. Following the completion of the purchase, 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

WY has been the subject of a number of research reports. Argus upgraded Weyerhaeuser to a “hold” rating in a research report on Friday, August 9th. Truist Financial increased their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Finally, StockNews.com downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.33.

Weyerhaeuser Stock Down 0.8 %

NYSE WY opened at $31.72 on Wednesday. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27. The firm has a market capitalization of $23.05 billion, a price-to-earnings ratio of 42.86 and a beta of 1.40. The company has a fifty day moving average of $32.11 and a two-hundred day moving average of $30.83.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $1.68 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The firm’s revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.33 EPS. On average, analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.52%. Weyerhaeuser’s dividend payout ratio is 108.11%.

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.