D.A. Davidson & CO. Increases Holdings in Weyerhaeuser Company $WY

D.A. Davidson & CO. increased its position in shares of Weyerhaeuser Company (NYSE:WY) by 20.1% in the third quarter, HoldingsChannel reports. The firm owned 282,192 shares of the real estate investment trust’s stock after acquiring an additional 47,171 shares during the quarter. D.A. Davidson & CO.’s holdings in Weyerhaeuser were worth $6,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Weyerhaeuser by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 114,318,728 shares of the real estate investment trust’s stock worth $2,936,848,000 after buying an additional 542,912 shares during the last quarter. State Street Corp increased its stake in shares of Weyerhaeuser by 0.9% in the second quarter. State Street Corp now owns 31,865,696 shares of the real estate investment trust’s stock worth $818,630,000 after acquiring an additional 271,832 shares during the period. Norges Bank purchased a new position in shares of Weyerhaeuser during the second quarter worth $600,502,000. Geode Capital Management LLC lifted its position in Weyerhaeuser by 1.7% during the second quarter. Geode Capital Management LLC now owns 19,909,790 shares of the real estate investment trust’s stock valued at $509,460,000 after purchasing an additional 340,948 shares during the period. Finally, Bank of New York Mellon Corp grew its position in Weyerhaeuser by 86.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,550,466 shares of the real estate investment trust’s stock worth $348,111,000 after purchasing an additional 6,284,982 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.

Insider Transactions at Weyerhaeuser

In related news, CEO Devin W. Stockfish sold 90,162 shares of the firm’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $23.33, for a total value of $2,103,479.46. Following the transaction, the chief executive officer directly owned 1,024,861 shares of the company’s stock, valued at approximately $23,910,007.13. This trade represents a 8.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sara Grootwassink Lewis acquired 4,500 shares of the stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average price of $23.61 per share, for a total transaction of $106,245.00. Following the completion of the acquisition, the director owned 25,978 shares in the company, valued at $613,340.58. The trade was a 20.95% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. decreased their price objective on Weyerhaeuser from $28.00 to $27.00 and set an “overweight” rating for the company in a report on Friday, November 14th. Citigroup lowered their price objective on Weyerhaeuser from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, November 12th. Truist Financial raised their price objective on shares of Weyerhaeuser from $27.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday. Bank of America reiterated a “neutral” rating and issued a $26.00 target price (down from $29.00) on shares of Weyerhaeuser in a research note on Monday, November 17th. Finally, Royal Bank Of Canada dropped their price target on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

Weyerhaeuser Trading Down 1.0%

Shares of NYSE:WY opened at $24.01 on Wednesday. The business’s 50 day moving average price is $22.80 and its 200-day moving average price is $24.42. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $31.66. The firm has a market capitalization of $17.31 billion, a price-to-earnings ratio of 53.35, a price-to-earnings-growth ratio of 92.43 and a beta of 1.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 0.78.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. The company had revenue of $1.72 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Weyerhaeuser had a net margin of 4.68% and a return on equity of 3.04%. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.05 earnings per share. On average, equities research analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, November 28th. Weyerhaeuser’s dividend payout ratio is 186.67%.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.