Sumitomo Mitsui Trust Group Inc. Lowers Stock Holdings in Weyerhaeuser (NYSE:WY)

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Weyerhaeuser (NYSE:WY) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,635,317 shares of the real estate investment trust’s stock after selling 20,090 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Weyerhaeuser were worth $55,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in WY. Oakworth Capital Inc. purchased a new stake in shares of Weyerhaeuser during the third quarter worth about $25,000. Ridgewood Investments LLC purchased a new stake in Weyerhaeuser during the 2nd quarter valued at approximately $26,000. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Weyerhaeuser by 4,884.2% during 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 buying an additional 928 shares during the last quarter. Itau Unibanco Holding S.A. purchased a new position in shares of Weyerhaeuser in the second quarter worth $27,000. Finally, Bangor Savings Bank boosted its position in shares of Weyerhaeuser by 140.3% during the third quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 651 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Weyerhaeuser Price Performance

NYSE:WY opened at $30.93 on Friday. The firm has a market capitalization of $22.47 billion, a price-to-earnings ratio of 41.80 and a beta of 1.40. 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 business has a 50 day simple moving average of $32.30 and a 200-day simple moving average of $30.78. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. During the same period last year, the company earned $0.33 earnings per share. Weyerhaeuser’s revenue was down 13.3% on a year-over-year basis. Equities analysts forecast that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, November 29th. This represents a $0.80 annualized dividend and a yield of 2.59%. Weyerhaeuser’s payout ratio is 108.11%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on WY. Truist Financial lifted their price target on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. BMO Capital Markets reissued a “market perform” rating and set a $38.00 price target on shares of Weyerhaeuser in a research note on Tuesday, July 30th. Argus raised Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Royal Bank of Canada upped their price objective on Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Finally, DA Davidson cut their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $36.33.

Insider Buying and Selling

In related news, Director Albert Monaco bought 31,500 shares of the stock in a transaction dated Monday, August 26th. The stock was purchased at an average cost of $31.38 per share, with a total value of $988,470.00. Following the completion of the purchase, the director now owns 70,726 shares of the company’s stock, valued at $2,219,381.88. This trade represents a 80.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director James Calvin O’rourke purchased 7,800 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was bought at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the acquisition, the director now owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. The trade was a 79.01 % increase in their position. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by corporate 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.