Pinnacle Associates Ltd. Sells 876 Shares of Weyerhaeuser (NYSE:WY)

Posted by on Apr 8th, 2023

Pinnacle Associates Ltd. lessened its holdings in shares of Weyerhaeuser (NYSE:WY – Get Rating) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,947 shares of the real estate investment trust’s stock after selling 876 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Weyerhaeuser were worth $451,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of WY. Eagle Bay Advisors LLC purchased a new position in shares of Weyerhaeuser during the 2nd quarter valued at about $26,000. New Millennium Group LLC purchased a new position in shares of Weyerhaeuser during the 2nd quarter valued at about $27,000. Center for Financial Planning Inc. raised 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 valued at $26,000 after buying an additional 672 shares in the last quarter. CI Investments Inc. raised 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 valued at $28,000 after buying an additional 901 shares in the last quarter. Finally, CNB Bank raised 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 valued at $30,000 after buying an additional 1,027 shares in the last quarter. Institutional investors own 80.86% of the company’s stock.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock opened at $29.85 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.58 and a quick ratio of 1.26. Weyerhaeuser has a one year low of $27.36 and a one year high of $42.86. The stock has a market capitalization of $21.88 billion, a P/E ratio of 11.80 and a beta of 1.47. The business’s 50 day simple moving average is $31.24 and its two-hundred day simple moving average is $31.07.

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, 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 firm had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the firm earned $0.49 earnings per share. The business’s revenue was down 17.4% compared to the same quarter last year. Analysts forecast 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. Stockholders of record on Friday, March 3rd were paid 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 dividend yield of 2.55%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 30.04%.

Insider Activity

In other news, CEO Devin W. Stockfish sold 1,800 shares of the business’s stock in a transaction that occurred 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 $20,425,716. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

WY has been the topic of a number of research reports. StockNews.com initiated coverage on Weyerhaeuser in a report on Thursday, March 16th. They set a “hold” rating on the stock. Raymond James lifted 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. BMO Capital Markets decreased their price target on Weyerhaeuser from $42.00 to $36.00 and set a “market perform” rating on the stock in a research note on Monday, February 6th. Finally, Citigroup decreased their price target on Weyerhaeuser from $39.00 to $36.00 in a research note on Thursday. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Weyerhaeuser Company 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.

Featured Articles

Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

Receive News & Ratings for Weyerhaeuser Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weyerhaeuser and related companies with MarketBeat.com's FREE daily email newsletter.