Weyerhaeuser (NYSE:WY) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its stake in shares of Weyerhaeuser (NYSE:WY) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,029,671 shares of the real estate investment trust’s stock after selling 51,527 shares during the period. New York State Common Retirement Fund’s holdings in Weyerhaeuser were worth $35,802,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Weyerhaeuser during the 4th quarter valued at approximately $26,000. Millburn Ridgefield Corp purchased a new stake in Weyerhaeuser in the third quarter valued at approximately $25,000. Raleigh Capital Management Inc. raised its position in Weyerhaeuser by 606.7% in the third quarter. Raleigh Capital Management Inc. now owns 848 shares of the real estate investment trust’s stock valued at $26,000 after purchasing an additional 728 shares during the period. Lindbrook Capital LLC raised its position in Weyerhaeuser by 92.6% in the fourth quarter. Lindbrook Capital LLC now owns 888 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 427 shares during the period. Finally, Princeton Global Asset Management LLC raised its position in Weyerhaeuser by 400.0% in the fourth quarter. Princeton Global Asset Management LLC now owns 1,250 shares of the real estate investment trust’s stock valued at $43,000 after purchasing an additional 1,000 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Performance

Shares of WY stock opened at $31.46 on Friday. The company has a current ratio of 2.94, a quick ratio of 2.22 and a debt-to-equity ratio of 0.50. The firm has a fifty day moving average price of $33.98 and a 200 day moving average price of $32.71. The company has a market cap of $22.95 billion, a P/E ratio of 27.36 and a beta of 1.43. Weyerhaeuser has a 12 month low of $28.12 and a 12 month high of $36.27.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, April 25th. The real estate investment trust reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $1.80 billion during the quarter, compared to the consensus estimate of $1.86 billion. Weyerhaeuser had a net margin of 10.93% and a return on equity of 7.36%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Sell-side analysts predict that Weyerhaeuser will post 1 earnings per share for the current fiscal year.

Weyerhaeuser Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.19. Weyerhaeuser’s payout ratio is presently 69.57%.

Insider Buying and Selling

In related news, CFO David M. Wold sold 924 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $32.84, for a total transaction of $30,344.16. Following the completion of the transaction, the chief financial officer now owns 60,655 shares in the company, valued at $1,991,910.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Weyerhaeuser news, CFO David M. Wold sold 924 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $32.84, for a total value of $30,344.16. Following the completion of the transaction, the chief financial officer now owns 60,655 shares in the company, valued at $1,991,910.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Keith O’rear sold 8,349 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $36.03, for a total transaction of $300,814.47. Following the completion of the transaction, the senior vice president now owns 170,665 shares of the company’s stock, valued at approximately $6,149,059.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,699 shares of company stock worth $1,455,609. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. BMO Capital Markets boosted their target price on Weyerhaeuser from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Weyerhaeuser in a research report on Monday, January 29th. Truist Financial reaffirmed a “hold” rating and set a $36.00 price objective on shares of Weyerhaeuser in a research report on Wednesday, April 3rd. CIBC set a $37.00 price objective on Weyerhaeuser and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Finally, StockNews.com lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $38.00.

Weyerhaeuser 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.