New York State Common Retirement Fund lessened its holdings in Weyerhaeuser (NYSE:WY) by 11.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 942,544 shares of the real estate investment trust’s stock after selling 124,000 shares during the period. New York State Common Retirement Fund’s holdings in Weyerhaeuser were worth $33,555,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in WY. Diamond Hill Capital Management Inc. raised its holdings in shares of Weyerhaeuser by 38.4% in the 4th quarter. Diamond Hill Capital Management Inc. now owns 6,569,212 shares of the real estate investment trust’s stock valued at $220,266,000 after buying an additional 1,821,796 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Weyerhaeuser by 56.6% in the 4th quarter. Victory Capital Management Inc. now owns 515,440 shares of the real estate investment trust’s stock valued at $17,283,000 after buying an additional 186,386 shares during the period. Centre Asset Management LLC purchased a new stake in shares of Weyerhaeuser in the 1st quarter valued at $4,915,000. Fifth Third Bancorp raised its holdings in shares of Weyerhaeuser by 8.4% in the 1st quarter. Fifth Third Bancorp now owns 78,196 shares of the real estate investment trust’s stock valued at $2,784,000 after buying an additional 6,078 shares during the period. Finally, Litman Gregory Asset Management LLC purchased a new stake in shares of Weyerhaeuser in the 4th quarter valued at $36,000. 81.43% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Nancy S. Loewe bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 5th. The stock was purchased at an average cost of $38.56 per share, with a total value of $385,600.00. Following the transaction, the chief financial officer now directly owns 31,627 shares in the company, valued at $1,219,537.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Keith O’rear sold 15,745 shares of the company’s stock in a transaction dated Wednesday, May 5th. The shares were sold at an average price of $39.21, for a total value of $617,361.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 230,479 shares of company stock valued at $9,238,449. Insiders own 0.27% of the company’s stock.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, April 29th. The real estate investment trust reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.02). Weyerhaeuser had a net margin of 15.98% and a return on equity of 17.31%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter in the previous year, the company posted $0.18 EPS. The company’s revenue was up 45.0% compared to the same quarter last year. Analysts forecast that Weyerhaeuser will post 2.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 18th. Stockholders of record on Friday, June 4th will be issued a $0.17 dividend. The ex-dividend date is Thursday, June 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.94%. Weyerhaeuser’s payout ratio is currently 52.71%.
Several equities research analysts recently issued reports on WY shares. Raymond James upgraded Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $37.00 to $50.00 in a report on Monday, May 3rd. BMO Capital Markets upped their price target on Weyerhaeuser from $40.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, May 3rd. Finally, Stephens restated an “equal weight” rating and set a $35.00 price target on shares of Weyerhaeuser in a report on Monday, May 10th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $34.33.
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.
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