Patten & Patten Inc. TN Has $3.13 Million Stock Holdings in Weyerhaeuser (NYSE:WY)

Patten & Patten Inc. TN decreased its holdings in shares of Weyerhaeuser (NYSE:WY - Free Report) by 47.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,495 shares of the real estate investment trust's stock after selling 83,450 shares during the period. Patten & Patten Inc. TN's holdings in Weyerhaeuser were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Swedbank AB acquired a new position in Weyerhaeuser in the 1st quarter valued at $106,141,000. Price T Rowe Associates Inc. MD raised its stake in Weyerhaeuser by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust's stock valued at $1,840,807,000 after purchasing an additional 2,874,101 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in 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 purchasing an additional 2,004,073 shares during the last quarter. M&G Plc acquired a new position in Weyerhaeuser in the 1st quarter valued at $60,792,000. Finally, Millennium Management LLC raised its stake in 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 purchasing an additional 1,308,125 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company's stock.

Wall Street Analysts Forecast Growth

WY has been the subject of a number of recent research reports. DA Davidson cut their target price on Weyerhaeuser from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Monday, July 29th. BMO Capital Markets restated a "market perform" rating and set a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. Citigroup decreased their price objective on Weyerhaeuser from $37.00 to $36.00 and set a "buy" rating for the company in a research note on Tuesday, July 30th. StockNews.com lowered Weyerhaeuser from a "hold" rating to a "sell" rating in a research report on Monday, October 28th. Finally, Argus raised Weyerhaeuser to a "hold" rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $36.33.

Weyerhaeuser Price Performance

WY traded down $0.43 during trading on Monday, reaching $31.46. 1,034,590 shares of the stock were exchanged, compared to its average volume of 3,632,398. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27. The company has a market capitalization of $22.86 billion, a price-to-earnings ratio of 43.09 and a beta of 1.40. The business's 50 day moving average price is $32.24 and its two-hundred day moving average price is $30.78. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41.

Weyerhaeuser (NYSE:WY - Get Free Report) last released its quarterly 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 company had revenue of $1.68 billion during the quarter, compared to analysts' expectations of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The business's revenue for the quarter was down 13.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. As a group, equities research analysts anticipate that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. Weyerhaeuser's payout ratio is 108.11%.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director Albert Monaco purchased 31,500 shares of Weyerhaeuser stock in a transaction that occurred on Monday, August 26th. The stock was purchased at an average price of $31.38 per share, with a total value of $988,470.00. Following the completion of the acquisition, the director now owns 70,726 shares of the company's stock, valued at approximately $2,219,381.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Weyerhaeuser news, Director James Calvin O'rourke bought 7,800 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the transaction, the director now directly owns 17,672 shares in the company, valued at $565,680.72. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Albert Monaco purchased 31,500 shares of the stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the transaction, the director now owns 70,726 shares in the company, valued at $2,219,381.88. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company's stock.

Weyerhaeuser Company 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.