Investment Management Corp of Ontario Sells 29,584 Shares of Weyerhaeuser (NYSE:WY)

Investment Management Corp of Ontario lessened its holdings in shares of Weyerhaeuser (NYSE:WY - Free Report) by 21.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,471 shares of the real estate investment trust's stock after selling 29,584 shares during the quarter. Investment Management Corp of Ontario's holdings in Weyerhaeuser were worth $3,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WY. Fiduciary Trust Co boosted its stake in Weyerhaeuser by 0.6% in the 3rd quarter. Fiduciary Trust Co now owns 53,185 shares of the real estate investment trust's stock worth $1,801,000 after purchasing an additional 331 shares during the period. Wedmont Private Capital lifted its stake in Weyerhaeuser by 4.4% in the 3rd quarter. Wedmont Private Capital now owns 8,304 shares of the real estate investment trust's stock valued at $273,000 after acquiring an additional 350 shares in the last quarter. Institute for Wealth Management LLC. boosted its position in Weyerhaeuser by 2.2% during the 2nd quarter. Institute for Wealth Management LLC. now owns 16,731 shares of the real estate investment trust's stock worth $475,000 after acquiring an additional 366 shares during the last quarter. CWM LLC grew its stake in shares of Weyerhaeuser by 2.2% during the 3rd quarter. CWM LLC now owns 17,185 shares of the real estate investment trust's stock worth $582,000 after acquiring an additional 368 shares in the last quarter. Finally, Trust Co. of Toledo NA OH raised its holdings in shares of Weyerhaeuser by 0.9% in the third quarter. Trust Co. of Toledo NA OH now owns 43,019 shares of the real estate investment trust's stock valued at $1,457,000 after purchasing an additional 402 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Weyerhaeuser Stock Performance

NYSE:WY traded down $0.58 during mid-day trading on Wednesday, reaching $31.14. 1,403,767 shares of the company's stock were exchanged, compared to its average volume of 3,584,910. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. The business's fifty day simple moving average is $32.11 and its two-hundred day simple moving average is $30.83. The firm has a market capitalization of $22.63 billion, a PE ratio of 42.86 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 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The company 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% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. Analysts anticipate that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

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 issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, November 29th. Weyerhaeuser's dividend payout ratio (DPR) is currently 108.11%.

Insider Buying and Selling

In other Weyerhaeuser news, Director James Calvin O'rourke bought 7,800 shares of Weyerhaeuser stock in a transaction on Friday, September 13th. The shares were purchased at an average price 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. This trade represents a 79.01 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.

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.