Hartford Investment Management Co. Lowers Stock Holdings in Weyerhaeuser (NYSE:WY)

Hartford Investment Management Co. lessened its holdings in Weyerhaeuser (NYSE:WY) by 2.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 45,513 shares of the real estate investment trust’s stock after selling 1,118 shares during the period. Hartford Investment Management Co.’s holdings in Weyerhaeuser were worth $1,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of WY. Oakworth Capital Inc. bought a new position in shares of Weyerhaeuser during the 3rd quarter valued at about $25,000. Ridgewood Investments LLC bought a new position in Weyerhaeuser during the second quarter valued at approximately $26,000. Itau Unibanco Holding S.A. bought a new position in Weyerhaeuser during the second quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Weyerhaeuser by 4,884.2% during the 3rd 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 in the last quarter. Finally, Park Place Capital Corp increased its stake in Weyerhaeuser by 440.5% in the 2nd 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 last quarter. 82.99% of the stock is owned by institutional investors.

Weyerhaeuser Trading Down 1.0 %

WY stock opened at $31.80 on Friday. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The firm’s 50-day moving average is $32.01 and its 200 day moving average is $30.89. The company has a market capitalization of $23.18 billion, a PE ratio of 28.91 and a beta of 1.40. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.19 and a quick ratio of 1.58.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The company’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, research analysts anticipate that Weyerhaeuser will post 0.48 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date was Friday, August 30th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 72.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on WY shares. Citigroup lowered their price objective on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. DA Davidson dropped their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Truist Financial upped their price objective on Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Argus upgraded Weyerhaeuser to a “hold” rating in a report on Friday, August 9th. Finally, BMO Capital Markets restated a “market perform” rating and set a $38.00 price target on shares of Weyerhaeuser in a report on Tuesday, July 30th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.33.

Insiders Place Their Bets

In other news, Director Albert Monaco purchased 31,500 shares of the business’s 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 purchase, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Weyerhaeuser news, Director Albert Monaco bought 31,500 shares of the company’s stock in a transaction on Monday, August 26th. The shares were bought at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the acquisition, the director now directly owns 70,726 shares in the company, valued at approximately $2,219,381.88. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director James Calvin O’rourke purchased 7,800 shares of Weyerhaeuser stock in a transaction dated Friday, September 13th. The stock was acquired 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 approximately $565,680.72. This 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.

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.