Granite Investment Partners LLC Sells 23,117 Shares of Weyerhaeuser Company $WY

Granite Investment Partners LLC cut its stake in Weyerhaeuser Company (NYSE:WY) by 31.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,450 shares of the real estate investment trust’s stock after selling 23,117 shares during the period. Granite Investment Partners LLC’s holdings in Weyerhaeuser were worth $1,251,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Hantz Financial Services Inc. grew its position in shares of Weyerhaeuser by 86.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,125 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 521 shares during the period. Tradewinds Capital Management LLC boosted its stake in Weyerhaeuser by 401.3% during the third quarter. Tradewinds Capital Management LLC now owns 1,198 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 959 shares in the last quarter. Cromwell Holdings LLC grew its holdings in Weyerhaeuser by 58.3% in the third quarter. Cromwell Holdings LLC now owns 1,361 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 501 shares during the period. Operose Advisors LLC purchased a new stake in Weyerhaeuser in the second quarter worth about $41,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Weyerhaeuser during the second quarter valued at approximately $49,000. Institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

WY has been the subject of a number of recent analyst reports. DA Davidson restated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a report on Monday, February 2nd. Truist Financial lifted their target price on Weyerhaeuser from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Wall Street Zen downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Saturday. Royal Bank Of Canada reduced their price objective on Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating for the company in a report on Monday, November 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Weyerhaeuser from $28.00 to $27.00 and set an “overweight” rating for the company in a research report on Friday, November 14th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Weyerhaeuser presently has a consensus rating of “Hold” and a consensus price target of $28.88.

Insider Buying and Selling

In related news, Director James Calvin O’rourke acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was bought at an average cost of $25.35 per share, for a total transaction of $101,400.00. Following the purchase, the director owned 28,661 shares in the company, valued at $726,556.35. The trade was a 16.22% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Sara Grootwassink Lewis bought 4,500 shares of Weyerhaeuser stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average cost of $23.61 per share, with a total value of $106,245.00. Following the completion of the acquisition, the director directly owned 25,978 shares in the company, valued at $613,340.58. This represents a 20.95% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 28,500 shares of company stock worth $721,645. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser Stock Performance

WY opened at $25.10 on Tuesday. The company’s 50 day moving average is $25.46 and its 200 day moving average is $24.51. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 57.06 and a beta of 1.03. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $31.66.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.58 billion. During the same period last year, the firm earned $0.11 earnings per share. The company’s quarterly revenue was down 9.8% on a year-over-year basis. On average, equities research analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a dividend of $0.21 per share. The ex-dividend date is Tuesday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.3%. Weyerhaeuser’s payout ratio is 190.91%.

Weyerhaeuser Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.