Arvest Bank Trust Division Buys New Position in Weyerhaeuser (NYSE:WY)

Arvest Bank Trust Division acquired a new stake in shares of Weyerhaeuser (NYSE:WY - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 29,455 shares of the real estate investment trust's stock, valued at approximately $997,000.

Other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Weyerhaeuser by 12.7% in the third quarter. Wellington Management Group LLP now owns 35,755,865 shares of the real estate investment trust's stock valued at $1,210,694,000 after acquiring an additional 4,035,048 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Weyerhaeuser by 257.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,472,451 shares of the real estate investment trust's stock valued at $151,437,000 after purchasing an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. grew its stake in Weyerhaeuser by 2,664.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 2,195,958 shares of the real estate investment trust's stock valued at $74,355,000 after purchasing an additional 2,116,520 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust's stock valued at $291,306,000 after purchasing an additional 2,004,073 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Weyerhaeuser by 512.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust's stock worth $44,386,000 after purchasing an additional 1,308,125 shares during the period. 82.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Truist Financial raised their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a "hold" rating in a report on Tuesday, October 15th. 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. Finally, StockNews.com downgraded Weyerhaeuser from a "hold" rating to a "sell" rating in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $36.33.

Weyerhaeuser Stock Performance

Shares of WY stock traded down $0.49 during trading on Thursday, reaching $30.40. 2,848,462 shares of the company's stock traded hands, compared to its average volume of 3,589,979. The firm's 50-day moving average is $31.83 and its 200 day moving average is $30.85. The company has a market capitalization of $22.09 billion, a P/E ratio of 41.28 and a beta of 1.40. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. The firm had revenue of $1.68 billion for 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%. The business's quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. Equities research analysts expect that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Dividend Announcement

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 paid a $0.20 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 2.63%. Weyerhaeuser's dividend payout ratio is currently 108.11%.

Insider Buying and Selling at Weyerhaeuser

In other news, Director James Calvin O'rourke purchased 7,800 shares of the firm's stock in a transaction dated Friday, September 13th. The shares were purchased 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 $565,680.72. This trade represents a 79.01 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.27% of the company's stock.

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.