ING Groep NV Trims Stake in Weyerhaeuser (NYSE:WY)

ING Groep NV trimmed its stake in shares of Weyerhaeuser (NYSE:WY - Free Report) by 24.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,772 shares of the real estate investment trust's stock after selling 61,026 shares during the period. ING Groep NV's holdings in Weyerhaeuser were worth $6,493,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. acquired a new stake in shares of Weyerhaeuser in the third quarter valued at about $25,000. Ridgewood Investments LLC bought a new position in Weyerhaeuser during the 2nd quarter worth $26,000. Itau Unibanco Holding S.A. acquired a new position in shares of Weyerhaeuser in the second quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of 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 acquiring an additional 928 shares in the last quarter. Finally, Park Place Capital Corp increased its position in Weyerhaeuser by 440.5% during the second quarter. Park Place Capital Corp now owns 1,227 shares of the real estate investment trust's stock worth $35,000 after acquiring an additional 1,000 shares during the period. 82.99% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Albert Monaco purchased 31,500 shares of the company's stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $31.38 per share, with a total value of $988,470.00. Following the transaction, the director now directly owns 70,726 shares of the company's stock, valued at approximately $2,219,381.88. This represents a 80.30 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Calvin O'rourke acquired 7,800 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was purchased at an average cost of $32.01 per share, with a total value of $249,678.00. Following the acquisition, the director now owns 17,672 shares in the company, valued at $565,680.72. The trade was a 79.01 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. BMO Capital Markets restated a "market perform" rating and issued a $38.00 target price on shares of Weyerhaeuser in a research report on Tuesday, July 30th. Royal Bank of Canada increased their price target on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an "outperform" rating in a research report on Monday, July 29th. Argus upgraded shares of Weyerhaeuser to a "hold" rating in a research report on Friday, August 9th. Finally, Truist Financial raised their target price on Weyerhaeuser from $31.00 to $34.00 and gave the company a "hold" rating in a report on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $36.33.

Weyerhaeuser Price Performance

Shares of NYSE WY traded up $0.07 during mid-day trading on Friday, hitting $30.93. 2,916,637 shares of the stock traded hands, compared to its average volume of 3,491,185. 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 company has a market cap of $22.47 billion, a PE ratio of 41.80 and a beta of 1.40. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The firm has a 50 day simple moving average of $32.31 and a two-hundred day simple moving average of $30.78.

Weyerhaeuser (NYSE:WY - Get Free Report) last posted its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the business posted $0.33 earnings per share. Weyerhaeuser's quarterly revenue was down 13.3% on a year-over-year basis. As a group, equities research analysts forecast that Weyerhaeuser will post 0.46 EPS for the current fiscal year.

Weyerhaeuser Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.59%. Weyerhaeuser's payout ratio is presently 108.11%.

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.