Procyon Advisors LLC Sells 2,864 Shares of Weyerhaeuser (NYSE:WY)

Procyon Advisors LLC lowered its stake in Weyerhaeuser (NYSE:WY) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,245 shares of the real estate investment trust’s stock after selling 2,864 shares during the quarter. Procyon Advisors LLC’s holdings in Weyerhaeuser were worth $1,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new position in shares of Weyerhaeuser in the third quarter valued at approximately $25,000. Itau Unibanco Holding S.A. bought a new stake in Weyerhaeuser during the 2nd quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Weyerhaeuser by 4,884.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 928 shares in the last quarter. Bangor Savings Bank boosted its holdings in Weyerhaeuser by 140.3% in the 3rd quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 651 shares during the period. Finally, Meeder Asset Management Inc. grew its position in shares of Weyerhaeuser by 172.4% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 719 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Trading Up 0.7 %

Shares of WY opened at $30.24 on Friday. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 40.86 and a beta of 1.42. The firm has a 50 day moving average price of $29.82 and a 200-day moving average price of $30.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was down 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Weyerhaeuser will post 0.49 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.20 per share. The ex-dividend date was Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 2.65%. Weyerhaeuser’s payout ratio is 108.11%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WY. Citigroup lowered their price objective on Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday. Truist Financial dropped their price target on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a research report on Monday, January 6th. CIBC upgraded shares of Weyerhaeuser from a “neutral” rating to an “outperformer” rating and set a $35.00 price objective on the stock in a research report on Wednesday. StockNews.com lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Friday. Finally, BMO Capital Markets raised shares of Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, December 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.14.

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.