HighTower Advisors LLC Lowers Stock Holdings in Weyerhaeuser Company $WY

HighTower Advisors LLC reduced its stake in shares of Weyerhaeuser Company (NYSE:WY) by 43.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 187,637 shares of the real estate investment trust’s stock after selling 143,860 shares during the quarter. HighTower Advisors LLC’s holdings in Weyerhaeuser were worth $4,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of WY. Allianz Asset Management GmbH boosted its position in Weyerhaeuser by 27.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,881,226 shares of the real estate investment trust’s stock valued at $46,636,000 after acquiring an additional 405,575 shares in the last quarter. Citigroup Inc. boosted its position in shares of Weyerhaeuser by 68.5% in the 3rd quarter. Citigroup Inc. now owns 1,647,285 shares of the real estate investment trust’s stock worth $40,836,000 after purchasing an additional 669,451 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Weyerhaeuser by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 3,675,994 shares of the real estate investment trust’s stock worth $91,128,000 after purchasing an additional 97,769 shares in the last quarter. Nordea Investment Management AB raised its holdings in Weyerhaeuser by 2.1% in the 4th quarter. Nordea Investment Management AB now owns 2,370,437 shares of the real estate investment trust’s stock worth $56,310,000 after acquiring an additional 47,709 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV purchased a new position in Weyerhaeuser in the 3rd quarter worth approximately $1,154,000. 82.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on WY shares. Wall Street Zen upgraded shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Truist Financial decreased their price objective on shares of Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. DA Davidson restated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a report on Monday, May 4th. Weiss Ratings lowered shares of Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Weyerhaeuser from $32.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, May 14th. Six equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and an average price target of $28.88.

Weyerhaeuser Trading Up 0.3%

Shares of WY stock opened at $24.59 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80. The company has a market cap of $17.73 billion, a price-to-earnings ratio of 45.53, a PEG ratio of 1.39 and a beta of 0.90. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $27.86. The firm has a fifty day moving average price of $24.04 and a 200-day moving average price of $24.22.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a net margin of 5.78% and a return on equity of 1.45%. Weyerhaeuser’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. As a group, equities analysts predict that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 22nd. Investors of record on Friday, June 5th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $0.84 annualized dividend and a yield of 3.4%. Weyerhaeuser’s dividend payout ratio is currently 155.56%.

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.