Weyerhaeuser Company $WY Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 11.2% in the 3rd quarter, Holdings Channel reports. The fund owned 357,832 shares of the real estate investment trust’s stock after selling 45,309 shares during the quarter. Korea Investment CORP’s holdings in Weyerhaeuser were worth $8,871,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WY. Allianz Asset Management GmbH boosted its holdings in shares of Weyerhaeuser by 27.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,881,226 shares of the real estate investment trust’s stock worth $46,636,000 after purchasing an additional 405,575 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Weyerhaeuser by 2.0% in the third quarter. Nordea Investment Management AB now owns 2,322,728 shares of the real estate investment trust’s stock valued at $57,278,000 after purchasing an additional 46,207 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Weyerhaeuser by 68.5% in the third quarter. Citigroup Inc. now owns 1,647,285 shares of the real estate investment trust’s stock valued at $40,836,000 after purchasing an additional 669,451 shares during the last quarter. Principal Financial Group Inc. lifted its position in Weyerhaeuser by 2.7% during the third quarter. Principal Financial Group Inc. now owns 3,675,994 shares of the real estate investment trust’s stock worth $91,128,000 after buying an additional 97,769 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new position in Weyerhaeuser during the third quarter worth approximately $1,154,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, CEO Devin W. Stockfish sold 90,162 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $23.33, for a total transaction of $2,103,479.46. Following the sale, the chief executive officer directly owned 1,024,861 shares in the company, valued at $23,910,007.13. This represents a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sara Grootwassink Lewis purchased 4,500 shares of Weyerhaeuser stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average cost of $23.61 per share, for a total transaction of $106,245.00. Following the transaction, the director directly owned 25,978 shares of the company’s stock, valued at approximately $613,340.58. This represents a 20.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 28,500 shares of company stock valued at $721,645. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

WY has been the subject of several analyst reports. Zacks Research upgraded Weyerhaeuser from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 12th. UBS Group reiterated a “buy” rating on shares of Weyerhaeuser in a report on Monday, December 15th. Citigroup boosted their price target on shares of Weyerhaeuser from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, February 13th. Wall Street Zen lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, New Street Research set a $28.00 price objective on shares of Weyerhaeuser in a research report on Friday, December 12th. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.88.

Weyerhaeuser Stock Down 3.9%

Weyerhaeuser stock opened at $23.23 on Thursday. The company has a market capitalization of $16.74 billion, a PE ratio of 52.79 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.29. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $30.28. The firm has a 50 day moving average price of $25.64 and a 200 day moving average price of $24.39.

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

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.84 annualized dividend and a yield of 3.6%. Weyerhaeuser’s dividend payout ratio is presently 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.