Creative Planning raised its stake in Weyerhaeuser (NYSE:WY – Free Report) by 7.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,924 shares of the real estate investment trust’s stock after purchasing an additional 4,100 shares during the quarter. Creative Planning’s holdings in Weyerhaeuser were worth $1,908,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new position in shares of Weyerhaeuser in the 2nd quarter valued at $26,000. Ridgewood Investments LLC acquired a new position in shares of Weyerhaeuser in the 1st quarter valued at $28,000. WealthPlan Investment Management LLC purchased a new position in shares of Weyerhaeuser in the 1st quarter valued at $29,000. Sugarloaf Wealth Management LLC raised its stake in shares of Weyerhaeuser by 320.3% in the 2nd quarter. Sugarloaf Wealth Management LLC now owns 912 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 695 shares during the period. Finally, Riverview Trust Co raised its stake in shares of Weyerhaeuser by 78.8% in the 2nd quarter. Riverview Trust Co now owns 1,046 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 461 shares during the period. Institutional investors and hedge funds own 79.54% of the company’s stock.
Insider Transactions at Weyerhaeuser
In other news, SVP Denise M. Merle sold 7,500 shares of Weyerhaeuser stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.29, for a total value of $242,175.00. Following the completion of the transaction, the senior vice president now directly owns 147,601 shares of the company’s stock, valued at approximately $4,766,036.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.
Weyerhaeuser Stock Performance
Weyerhaeuser (NYSE:WY – Get Free Report) last released its earnings results on Thursday, July 27th. The real estate investment trust reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.11. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $2.01 billion. Weyerhaeuser had a net margin of 8.80% and a return on equity of 8.32%. The company’s revenue was down 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.06 EPS. On average, research analysts forecast that Weyerhaeuser will post 1.15 EPS for the current fiscal year.
Weyerhaeuser Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, August 31st. Weyerhaeuser’s payout ratio is currently 79.17%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on WY shares. Truist Financial raised their target price on shares of Weyerhaeuser from $35.00 to $36.00 and gave the company a “hold” rating in a research note on Monday, July 31st. StockNews.com started coverage on shares of Weyerhaeuser in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. SpectralCast reissued a “maintains” rating on shares of Weyerhaeuser in a research note on Wednesday, June 28th. Bank of America raised shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and raised their target price for the company from $34.00 to $38.00 in a research note on Monday, July 10th. Finally, DA Davidson raised their target price on shares of Weyerhaeuser from $35.00 to $40.00 in a research note on Friday, July 7th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $38.29.
View Our Latest Research Report on Weyerhaeuser
Weyerhaeuser Profile
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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