Weyerhaeuser (NYSE:WY) Stock Holdings Lessened by Investment Management Corp of Ontario

Investment Management Corp of Ontario lessened its stake in shares of Weyerhaeuser (NYSE:WY) by 21.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 110,471 shares of the real estate investment trust’s stock after selling 29,584 shares during the quarter. Investment Management Corp of Ontario’s holdings in Weyerhaeuser were worth $3,741,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Weyerhaeuser by 257.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust’s stock worth $151,437,000 after acquiring an additional 3,220,235 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Weyerhaeuser by 2,664.4% in the third quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust’s stock worth $74,355,000 after purchasing an additional 2,116,520 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after acquiring an additional 2,004,073 shares during the last quarter. Millennium Management LLC grew its holdings in Weyerhaeuser by 512.3% during the second quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after purchasing an additional 1,308,125 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in Weyerhaeuser by 2,221.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust’s stock worth $39,674,000 after acquiring an additional 1,191,983 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

Shares of WY stock opened at $31.72 on Wednesday. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The stock has a 50-day moving average price of $32.11 and a 200 day moving average price of $30.83. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. The firm has a market cap of $23.05 billion, a price-to-earnings ratio of 42.86 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The firm had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The company’s quarterly revenue was down 13.3% on a year-over-year basis. Research analysts expect that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date is Friday, November 29th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 108.11%.

Analyst Upgrades and Downgrades

WY has been the subject of several research reports. Truist Financial increased their price objective on Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. StockNews.com cut Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Finally, Argus raised shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.33.

Insider Buying and Selling at Weyerhaeuser

In other Weyerhaeuser news, Director James Calvin O’rourke acquired 7,800 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average price of $32.01 per share, with a total value of $249,678.00. Following the completion of the transaction, the director now directly owns 17,672 shares in the company, valued at $565,680.72. This trade represents a 79.01 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.30% of the company’s stock.

About Weyerhaeuser

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.