BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Holdings in Weyerhaeuser (NYSE:WY)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its holdings in shares of Weyerhaeuser (NYSE:WY - Free Report) by 13.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 121,622 shares of the real estate investment trust's stock after selling 18,097 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Weyerhaeuser were worth $4,118,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of 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 buying an additional 3,220,235 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of 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 buying an additional 2,116,520 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Weyerhaeuser by 30.4% in 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 buying an additional 2,004,073 shares during the period. Millennium Management LLC grew its stake in shares of Weyerhaeuser by 512.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust's stock valued at $44,386,000 after buying an additional 1,308,125 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Weyerhaeuser by 2,221.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust's stock valued at $39,674,000 after buying an additional 1,191,983 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WY. Argus upgraded Weyerhaeuser to a "hold" rating in a research note on Friday, August 9th. Truist Financial raised their price target on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a "hold" rating in a research report on Tuesday, October 15th. Finally, StockNews.com cut shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $36.33.

Weyerhaeuser Stock Performance

Shares of WY stock traded down $0.48 during trading hours on Wednesday, hitting $31.24. 3,131,205 shares of the company were exchanged, compared to its average volume of 3,594,031. The firm has a fifty day simple moving average of $32.08 and a 200 day simple moving average of $30.84. 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 has a 52-week low of $26.73 and a 52-week high of $36.27. The stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 42.22 and a beta of 1.40.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analysts' expectations of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. Research analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Friday, November 29th. Weyerhaeuser's dividend payout ratio is presently 108.11%.

Insider Transactions at Weyerhaeuser

In related news, Director James Calvin O'rourke acquired 7,800 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the transaction, the director now owns 17,672 shares in the company, valued at approximately $565,680.72. This trade represents a 79.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.30% of the company's stock.

Weyerhaeuser Profile

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.