New York State Common Retirement Fund Sells 77,600 Shares of Weyerhaeuser Company $WY

New York State Common Retirement Fund cut its position in shares of Weyerhaeuser Company (NYSE:WY) by 12.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 561,874 shares of the real estate investment trust’s stock after selling 77,600 shares during the period. New York State Common Retirement Fund’s holdings in Weyerhaeuser were worth $13,929,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of WY. Arbor Capital Management Inc. ADV raised its position in shares of Weyerhaeuser by 38.8% during the 3rd quarter. Arbor Capital Management Inc. ADV now owns 34,757 shares of the real estate investment trust’s stock valued at $863,000 after buying an additional 9,724 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Weyerhaeuser by 9.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,990 shares of the real estate investment trust’s stock worth $2,578,000 after buying an additional 8,832 shares during the period. Bank of New York Mellon Corp increased its position in Weyerhaeuser by 10.3% during the third quarter. Bank of New York Mellon Corp now owns 14,950,516 shares of the real estate investment trust’s stock valued at $370,623,000 after acquiring an additional 1,400,050 shares during the last quarter. Federated Hermes Inc. increased its position in Weyerhaeuser by 40.6% during the third quarter. Federated Hermes Inc. now owns 2,904,893 shares of the real estate investment trust’s stock valued at $72,012,000 after acquiring an additional 838,229 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its stake in shares of Weyerhaeuser by 30.0% in the third quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 6,500 shares of the real estate investment trust’s stock valued at $161,000 after acquiring an additional 1,500 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Insider Buying and Selling

In other Weyerhaeuser news, CEO Devin W. Stockfish sold 90,162 shares of the company’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $23.33, for a total transaction of $2,103,479.46. Following the completion of the sale, the chief executive officer owned 1,024,861 shares in the company, valued at $23,910,007.13. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sara Grootwassink Lewis purchased 4,500 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was bought 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 directly owned 25,978 shares in the company, valued at approximately $613,340.58. This trade represents a 20.95% increase in their position. The SEC filing for this purchase provides additional information. 0.27% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday. New Street Research set a $28.00 target price on Weyerhaeuser in a research report on Friday, December 12th. Truist Financial increased their price target on Weyerhaeuser from $28.00 to $29.00 and gave the stock a “hold” rating in a report on Monday. DA Davidson reissued a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a research note on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Weyerhaeuser in a research report on Monday, December 29th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Weyerhaeuser presently has a consensus rating of “Hold” and a consensus target price of $28.63.

Weyerhaeuser Price Performance

Shares of WY stock opened at $25.87 on Tuesday. Weyerhaeuser Company has a twelve month low of $21.16 and a twelve month high of $31.66. The company has a current ratio of 1.29, a quick ratio of 0.83 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $24.21 and a two-hundred day simple moving average of $24.42. The stock has a market capitalization of $18.65 billion, a price-to-earnings ratio of 58.79, a P/E/G ratio of 94.50 and a beta of 1.04.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same period in the previous year, the company posted $0.11 earnings per share. The firm’s quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts predict that Weyerhaeuser Company will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, November 28th. Weyerhaeuser’s dividend payout ratio is presently 190.91%.

About Weyerhaeuser

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.