Wesbanco Bank Inc. purchased a new stake in shares of Weyerhaeuser (NYSE:WY – Get Rating) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 10,604 shares of the real estate investment trust’s stock, valued at approximately $328,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Pinnacle Associates Ltd. lifted its position in shares of Weyerhaeuser by 2.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 14,823 shares of the real estate investment trust’s stock valued at $423,000 after acquiring an additional 341 shares during the period. Parkside Financial Bank & Trust increased its stake in Weyerhaeuser by 8.0% during the 3rd quarter. Parkside Financial Bank & Trust now owns 4,620 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 341 shares in the last quarter. Allworth Financial LP increased its stake in Weyerhaeuser by 10.7% during the 4th quarter. Allworth Financial LP now owns 3,544 shares of the real estate investment trust’s stock valued at $110,000 after purchasing an additional 343 shares in the last quarter. Ascent Group LLC increased its stake in Weyerhaeuser by 3.8% during the 3rd quarter. Ascent Group LLC now owns 9,608 shares of the real estate investment trust’s stock valued at $297,000 after purchasing an additional 348 shares in the last quarter. Finally, City State Bank increased its stake in Weyerhaeuser by 7.7% during the 2nd quarter. City State Bank now owns 5,113 shares of the real estate investment trust’s stock valued at $169,000 after purchasing an additional 365 shares in the last quarter. 80.86% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of brokerages have commented on WY. Raymond James boosted their price target on shares of Weyerhaeuser from $38.00 to $42.00 and gave the company a “strong-buy” rating in a research note on Monday, February 13th. BMO Capital Markets decreased their price target on shares of Weyerhaeuser from $42.00 to $36.00 and set a “market perform” rating for the company in a research note on Monday, February 6th. Citigroup boosted their price target on shares of Weyerhaeuser from $37.00 to $39.00 and gave the company a “buy” rating in a research note on Tuesday, January 31st. Finally, StockNews.com began coverage on shares of Weyerhaeuser in a research note on Thursday, March 16th. They set a “hold” rating for the company. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $37.43.
Weyerhaeuser Stock Performance
Weyerhaeuser (NYSE:WY – Get Rating) last posted its earnings results on Friday, January 27th. The real estate investment trust reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. Weyerhaeuser had a net margin of 18.46% and a return on equity of 21.08%. The firm had revenue of $1.82 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue was down 17.4% compared to the same quarter last year. As a group, equities research analysts predict that Weyerhaeuser will post 1.05 EPS for the current fiscal year.
Weyerhaeuser Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 2nd. This represents a $0.76 annualized dividend and a yield of 2.65%. Weyerhaeuser’s payout ratio is currently 30.04%.
Insider Activity at Weyerhaeuser
In related news, CEO Devin W. Stockfish sold 1,800 shares of the stock in a transaction dated Thursday, February 2nd. The shares were sold at an average price of $36.00, for a total transaction of $64,800.00. Following the completion of the transaction, the chief executive officer now owns 567,381 shares in the company, valued at $20,425,716. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is owned by company insiders.
About Weyerhaeuser
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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