Weyerhaeuser (NYSE:WY) Shares Up 3.5%

Posted by Defense World Staff on Jun 30th, 2023

Weyerhaeuser logo Weyerhaeuser (NYSE:WY – Free Report) shot up 3.5% during mid-day trading on Wednesday . The stock traded as high as $33.08 and last traded at $32.96. 943,800 shares were traded during mid-day trading, a decline of 78% from the average session volume of 4,222,697 shares. The stock had previously closed at $31.84.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. DA Davidson raised shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and upped their price objective for the company from $34.00 to $35.00 in a research report on Monday, April 10th. Truist Financial decreased their price objective on shares of Weyerhaeuser from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Tuesday, April 11th. StockNews.com assumed coverage on shares of Weyerhaeuser in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Citigroup decreased their price objective on shares of Weyerhaeuser from $39.00 to $36.00 in a research report on Thursday, April 6th. Five analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.17.

Weyerhaeuser Stock Up 0.4 %

The company has a debt-to-equity ratio of 0.40, a current ratio of 1.24 and a quick ratio of 0.89. The firm’s 50-day moving average price is $29.86 and its 200 day moving average price is $30.86. The firm has a market cap of $24.41 billion, a P/E ratio of 19.49 and a beta of 1.48.

Weyerhaeuser (NYSE:WY – Free Report) last issued its quarterly earnings results on Friday, April 28th. The real estate investment trust reported $0.21 EPS for the quarter, topping the consensus estimate of $0.12 by $0.09. Weyerhaeuser had a net margin of 14.07% and a return on equity of 13.37%. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $1.31 earnings per share. The company’s quarterly revenue was down 13.9% compared to the same quarter last year. On average, equities research analysts expect that Weyerhaeuser will post 0.89 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Shareholders of record on Friday, June 2nd were issued a $0.19 dividend. The ex-dividend date was Thursday, June 1st. This represents a $0.76 dividend on an annualized basis and a yield of 2.28%. Weyerhaeuser’s dividend payout ratio is currently 44.44%.

Insiders Place Their Bets

In other Weyerhaeuser news, SVP Denise M. Merle sold 5,719 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $28.54, for a total value of $163,220.26. Following the transaction, the senior vice president now owns 154,788 shares of the company’s stock, valued at $4,417,649.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Weyerhaeuser news, SVP Denise M. Merle sold 5,719 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $28.54, for a total value of $163,220.26. Following the sale, the senior vice president now owns 154,788 shares in the company, valued at $4,417,649.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Denise M. Merle sold 1,781 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $30.00, for a total transaction of $53,430.00. Following the completion of the sale, the senior vice president now owns 160,507 shares in the company, valued at approximately $4,815,210. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Weyerhaeuser

Several large investors have recently made changes to their positions in the company. Atria Wealth Solutions Inc. increased its stake in shares of Weyerhaeuser by 2.6% in the fourth quarter. Atria Wealth Solutions Inc. now owns 11,587 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 297 shares during the period. Integrated Wealth Concepts LLC increased its stake in shares of Weyerhaeuser by 3.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 9,907 shares of the real estate investment trust’s stock valued at $307,000 after acquiring an additional 299 shares during the period. Montgomery Investment Management Inc. increased its stake in shares of Weyerhaeuser by 1.0% during the fourth quarter. Montgomery Investment Management Inc. now owns 30,525 shares of the real estate investment trust’s stock valued at $946,000 after acquiring an additional 300 shares during the period. Sargent Bickham Lagudis LLC increased its stake in shares of Weyerhaeuser by 36.2% during the fourth quarter. Sargent Bickham Lagudis LLC now owns 1,203 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 320 shares during the period. Finally, Desjardins Global Asset Management Inc. increased its stake in shares of Weyerhaeuser by 2.3% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 15,261 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 337 shares during the period. Institutional investors and hedge funds own 81.39% of the company’s stock.

Weyerhaeuser Company Profile

(Free Report)

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.