State of Tennessee Department of Treasury Cuts Stock Position in Weyerhaeuser (NYSE:WY)

State of Tennessee Department of Treasury decreased its stake in shares of Weyerhaeuser (NYSE:WY - Free Report) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 288,871 shares of the real estate investment trust's stock after selling 10,771 shares during the quarter. State of Tennessee Department of Treasury's holdings in Weyerhaeuser were worth $8,132,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Assetmark Inc. lifted its position in Weyerhaeuser by 290.9% in the 4th quarter. Assetmark Inc. now owns 1,239 shares of the real estate investment trust's stock valued at $35,000 after acquiring an additional 922 shares in the last quarter. Asset Planning Inc bought a new position in shares of Weyerhaeuser during the fourth quarter valued at $36,000. TD Waterhouse Canada Inc. lifted its holdings in shares of Weyerhaeuser by 136.1% during the fourth quarter. TD Waterhouse Canada Inc. now owns 1,400 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 807 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Weyerhaeuser in the 4th quarter worth about $44,000. Finally, Graney & King LLC purchased a new position in Weyerhaeuser in the 4th quarter worth about $44,000. 82.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on WY shares. Truist Financial reduced their price target on shares of Weyerhaeuser from $33.00 to $30.00 and set a "hold" rating for the company in a research note on Tuesday. StockNews.com raised shares of Weyerhaeuser from a "sell" rating to a "hold" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. began coverage on Weyerhaeuser in a report on Tuesday, April 8th. They set an "overweight" rating and a $31.00 price target on the stock. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $36.00 price objective on shares of Weyerhaeuser in a report on Monday, February 3rd. Finally, Cibc World Mkts raised Weyerhaeuser from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.75.

Weyerhaeuser Stock Up 0.6 %

NYSE WY opened at $25.45 on Friday. Weyerhaeuser has a 52 week low of $24.10 and a 52 week high of $34.03. The company has a quick ratio of 1.17, a current ratio of 1.79 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $18.47 billion, a P/E ratio of 46.27, a price-to-earnings-growth ratio of 4.74 and a beta of 1.25. The stock's 50-day moving average price is $28.35 and its 200-day moving average price is $29.76.

Weyerhaeuser (NYSE:WY - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The real estate investment trust reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). Weyerhaeuser had a net margin of 5.56% and a return on equity of 3.86%. On average, equities research analysts predict that Weyerhaeuser will post 0.78 earnings per share for the current year.

Weyerhaeuser Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 7th were issued a dividend of $0.21 per share. The ex-dividend date was Friday, March 7th. This is a boost from Weyerhaeuser's previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.30%. Weyerhaeuser's dividend payout ratio (DPR) is currently 152.73%.

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.

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