Hartford Investment Management Co. Decreases Holdings in Weyerhaeuser (NYSE:WY)

Posted by Defense World Staff on Mar 31st, 2023

Weyerhaeuser logo Hartford Investment Management Co. trimmed its holdings in shares of Weyerhaeuser (NYSE:WY – Get Rating) by 39.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,250 shares of the real estate investment trust’s stock after selling 34,730 shares during the period. Hartford Investment Management Co.’s holdings in Weyerhaeuser were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new stake in Weyerhaeuser during the 2nd quarter worth about $26,000. New Millennium Group LLC acquired a new stake in shares of Weyerhaeuser in the 2nd quarter valued at about $27,000. Center for Financial Planning Inc. grew its stake in 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 buying an additional 672 shares during the last quarter. CI Investments Inc. increased its position in Weyerhaeuser by 990.1% during the third quarter. CI Investments Inc. now owns 992 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 901 shares during the period. Finally, CNB Bank lifted its stake in Weyerhaeuser by 7,335.7% in the third quarter. CNB Bank now owns 1,041 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 1,027 shares during the last quarter. 80.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Raymond James raised their target price on shares of Weyerhaeuser from $38.00 to $42.00 and gave the stock a “strong-buy” rating in a research report on Monday, February 13th. BMO Capital Markets lowered their target price on shares of Weyerhaeuser from $42.00 to $36.00 and set a “market perform” rating on the stock in a research report on Monday, February 6th. Citigroup raised their target price on shares of Weyerhaeuser from $37.00 to $39.00 and gave the stock a “buy” rating in a research report on Tuesday, January 31st. Finally, StockNews.com assumed coverage on shares of Weyerhaeuser in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Weyerhaeuser presently has an average rating of “Hold” and a consensus target price of $37.43.

Weyerhaeuser Stock Performance

NYSE:WY opened at $29.25 on Friday. The firm’s fifty day moving average price is $31.60 and its 200 day moving average price is $31.16. Weyerhaeuser has a 1-year low of $27.36 and a 1-year high of $42.86. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.58 and a quick ratio of 1.26. The firm has a market cap of $21.42 billion, a price-to-earnings ratio of 11.56 and a beta of 1.47.

Weyerhaeuser (NYSE:WY – Get Rating) last released its earnings results on Friday, January 27th. The real estate investment trust reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. Weyerhaeuser had a return on equity of 21.08% and a net margin of 18.46%. The company had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $0.49 earnings per share. Weyerhaeuser’s quarterly revenue was down 17.4% compared to the same quarter last year. On average, sell-side analysts expect that Weyerhaeuser will post 1.05 EPS for the current year.

Weyerhaeuser Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 17th. Shareholders of record on Friday, March 3rd were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Thursday, March 2nd. Weyerhaeuser’s dividend payout ratio (DPR) is currently 30.04%.

Insider Buying and Selling at Weyerhaeuser

In other news, CEO Devin W. Stockfish sold 1,800 shares of Weyerhaeuser 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 completion of the transaction, the chief executive officer now owns 567,381 shares of the company’s stock, valued at approximately $20,425,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is owned by corporate insiders.

Weyerhaeuser Profile

(Get Rating)

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.