Bank of New York Mellon Corp decreased its holdings in shares of Weyerhaeuser (NYSE:WY – Get Rating) by 2.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,565,457 shares of the real estate investment trust’s stock after selling 161,056 shares during the period. Bank of New York Mellon Corp owned 1.03% of Weyerhaeuser worth $216,069,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Center for Financial Planning Inc. grew its holdings in shares of Weyerhaeuser by 304.1% during the 3rd quarter. Center for Financial Planning Inc. now owns 893 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 672 shares during the period. Eagle Bay Advisors LLC purchased a new position in shares of Weyerhaeuser during the 2nd quarter worth approximately $26,000. New Millennium Group LLC purchased a new position in shares of Weyerhaeuser during the 2nd quarter worth approximately $27,000. CI Investments Inc. grew its holdings in shares of Weyerhaeuser by 990.1% during the 3rd quarter. CI Investments Inc. now owns 992 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 901 shares during the period. Finally, CNB Bank grew its holdings in shares of Weyerhaeuser by 7,335.7% during the 3rd quarter. CNB Bank now owns 1,041 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 1,027 shares during the period. Institutional investors own 80.86% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have weighed in on WY. BMO Capital Markets reduced their target price on Weyerhaeuser from $42.00 to $36.00 and set a “market perform” rating on the stock in a report on Monday, February 6th. StockNews.com began coverage on Weyerhaeuser in a research note on Thursday. They issued a “hold” rating on the stock. Citigroup upped their price target on Weyerhaeuser from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Tuesday, January 31st. Finally, Raymond James upped their price target on Weyerhaeuser from $38.00 to $42.00 and gave the stock a “strong-buy” rating in a research note on Monday, February 13th. Six research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $37.43.
Weyerhaeuser Stock Performance
Weyerhaeuser (NYSE:WY – Get Rating) last issued its earnings results on Friday, January 27th. The real estate investment trust reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. Weyerhaeuser had a return on equity of 21.08% and a net margin of 18.46%. The business had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the business posted $0.49 EPS. The company’s revenue was down 17.4% compared to the same quarter last year. Research analysts anticipate that Weyerhaeuser will post 1.05 earnings per share for the current fiscal year.
Weyerhaeuser Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, March 3rd will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 2nd. This represents a $0.76 annualized dividend and a yield of 2.55%. Weyerhaeuser’s dividend payout ratio is 30.04%.
Insider Buying and Selling at Weyerhaeuser
In other news, CEO Devin W. Stockfish sold 1,800 shares of the stock in a transaction on Thursday, February 2nd. The stock was sold at an average price of $36.00, for a total transaction of $64,800.00. Following the transaction, the chief executive officer now directly owns 567,381 shares of the company’s stock, valued at approximately $20,425,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.22% of the company’s stock.
Weyerhaeuser Company Profile
Weyerhaeuser Co engages in the manufacture, distribution, and sale of forest products. It operates through the following business segments: Timberlands, Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products. The Timberlands segment manages private commercial forestland worldwide, engages in growing and harvesting trees for lumber, building, pulp, paper and other wood products.
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