Arizona State Retirement System Sells 778 Shares of Weyerhaeuser (NYSE:WY)

Posted by on Jul 17th, 2023

Arizona State Retirement System cut its stake in shares of Weyerhaeuser (NYSE:WY – Free Report) by 0.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,937 shares of the real estate investment trust’s stock after selling 778 shares during the quarter. Arizona State Retirement System’s holdings in Weyerhaeuser were worth $6,054,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bogart Wealth LLC grew its holdings in shares of Weyerhaeuser by 125.4% during the 4th quarter. Bogart Wealth LLC now owns 798 shares of the real estate investment trust’s stock valued at $25,000 after purchasing an additional 444 shares during the last quarter. Eagle Bay Advisors LLC bought a new stake in shares of Weyerhaeuser during the 2nd quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in Weyerhaeuser during the 1st quarter worth approximately $28,000. Compagnie Lombard Odier SCmA bought a new stake in Weyerhaeuser during the 4th quarter worth approximately $29,000. Finally, Prestige Wealth Management Group LLC bought a new stake in Weyerhaeuser during the 4th quarter worth approximately $31,000. 81.39% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WY. Citigroup reduced their target price on shares of Weyerhaeuser from $39.00 to $36.00 in a report on Thursday, April 6th. SpectralCast reissued a “maintains” rating on shares of Weyerhaeuser in a report on Wednesday, June 28th. StockNews.com began coverage on shares of Weyerhaeuser in a report on Thursday, May 18th. They set a “hold” rating on the stock. Bank of America raised shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $38.00 in a report on Monday, July 10th. Finally, DA Davidson boosted their price target on shares of Weyerhaeuser from $35.00 to $40.00 in a research report on Friday, July 7th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $37.67.

Insider Activity at Weyerhaeuser

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

Weyerhaeuser Stock Performance

NYSE WY opened at $34.08 on Monday. Weyerhaeuser has a 1 year low of $27.36 and a 1 year high of $37.37. 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 has a market cap of $24.96 billion, a price-to-earnings ratio of 19.93 and a beta of 1.50. The company has a fifty day moving average price of $30.73 and a 200-day moving average price of $31.01.

Weyerhaeuser (NYSE:WY – Get Free Report) last posted its earnings results on Friday, April 28th. The real estate investment trust reported $0.21 earnings per share (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 firm had revenue of $1.90 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business posted $1.31 EPS. The business’s revenue was down 13.9% compared to the same quarter last year. As a group, equities research analysts predict that Weyerhaeuser will post 0.9 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were given a dividend of $0.19 per share. The ex-dividend date was Thursday, June 1st. This represents a $0.76 annualized dividend and a yield of 2.23%. Weyerhaeuser’s payout ratio is currently 44.44%.

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.

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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)

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