HighTower Advisors LLC cut its stake in Weyerhaeuser (NYSE:WY - Free Report) by 84.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,899 shares of the real estate investment trust's stock after selling 1,090,360 shares during the period. HighTower Advisors LLC's holdings in Weyerhaeuser were worth $6,925,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the stock. Oakworth Capital Inc. bought a new stake in shares of Weyerhaeuser during the third quarter worth approximately $25,000. Ridgewood Investments LLC acquired a new position in shares of Weyerhaeuser in the 2nd quarter valued at $26,000. Itau Unibanco Holding S.A. bought a new position in shares of Weyerhaeuser in the 2nd quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Weyerhaeuser by 4,884.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 928 shares during the period. Finally, Bangor Savings Bank boosted its holdings in Weyerhaeuser by 140.3% during the third quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust's stock worth $38,000 after buying an additional 651 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Weyerhaeuser news, Director James Calvin O'rourke acquired 7,800 shares of Weyerhaeuser stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the purchase, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. This represents a 79.01 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.30% of the company's stock.
Weyerhaeuser Stock Down 2.6 %
Shares of Weyerhaeuser stock traded down $0.82 on Tuesday, hitting $30.92. The company had a trading volume of 3,349,293 shares, compared to its average volume of 3,584,375. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41. The stock has a 50-day moving average of $31.94 and a 200-day moving average of $30.85. The firm has a market capitalization of $22.47 billion, a P/E ratio of 41.78 and a beta of 1.40.
Weyerhaeuser (NYSE:WY - Get Free Report) last announced its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The firm had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The company's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.33 EPS. Research analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current year.
Weyerhaeuser Dividend Announcement
The company 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. This represents a $0.80 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser's payout ratio is 108.11%.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on WY. BMO Capital Markets raised Weyerhaeuser from a "market perform" rating to an "outperform" rating and set a $38.00 price target for the company in a research note on Friday. Truist Financial increased their target price on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a "hold" rating in a 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, three have given a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Weyerhaeuser has a consensus rating of "Hold" and a consensus target price of $36.33.
Get Our Latest Report on WY
Weyerhaeuser Company Profile
(
Free Report)
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.
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