Horizon Kinetics Asset Management LLC Lowers Holdings in Weyerhaeuser (NYSE:WY)

Horizon Kinetics Asset Management LLC reduced its stake in shares of Weyerhaeuser (NYSE:WY) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,379 shares of the real estate investment trust’s stock after selling 1,145 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Weyerhaeuser were worth $1,062,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of WY. Oakworth Capital Inc. purchased a new position in Weyerhaeuser in the third quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new stake in Weyerhaeuser during the 2nd quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 valued at $32,000 after purchasing an additional 928 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Weyerhaeuser in the second quarter valued at about $27,000. Finally, Bangor Savings Bank raised its position in Weyerhaeuser by 140.3% in the third 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. 82.99% of the stock is owned by institutional investors and hedge funds.

Weyerhaeuser Trading Up 3.2 %

Weyerhaeuser stock opened at $32.23 on Tuesday. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27. The firm’s 50-day moving average is $32.27 and its 200-day moving average is $30.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. The company has a market cap of $23.42 billion, a P/E ratio of 43.55 and a beta of 1.40.

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

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, November 29th. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

Analyst Ratings Changes

A number of research firms have recently issued reports on WY. Citigroup lowered their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Tuesday, July 30th. BMO Capital Markets restated a “market perform” rating and set a $38.00 price objective on shares of Weyerhaeuser in a report on Tuesday, July 30th. Argus upgraded Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Truist Financial lifted their price target on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, StockNews.com downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $36.33.

Insider Buying and Selling at Weyerhaeuser

In other Weyerhaeuser news, Director James Calvin O’rourke purchased 7,800 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $32.01 per share, with a total value of $249,678.00. Following the completion of the acquisition, the director now owns 17,672 shares in the company, valued at approximately $565,680.72. This represents a 79.01 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by company insiders.

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.