Garner Asset Management Corp Purchases 704 Shares of Weyerhaeuser (NYSE:WY)

Garner Asset Management Corp lifted its position in shares of Weyerhaeuser (NYSE:WY) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,161 shares of the real estate investment trust’s stock after purchasing an additional 704 shares during the period. Garner Asset Management Corp’s holdings in Weyerhaeuser were worth $1,834,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wedmont Private Capital lifted its position in shares of Weyerhaeuser by 4.4% during the 3rd quarter. Wedmont Private Capital now owns 8,304 shares of the real estate investment trust’s stock worth $273,000 after buying an additional 350 shares in the last quarter. Institute for Wealth Management LLC. lifted its holdings in Weyerhaeuser by 2.2% during the second 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 period. CWM LLC boosted its position in Weyerhaeuser by 2.2% in the third quarter. CWM LLC now owns 17,185 shares of the real estate investment trust’s stock worth $582,000 after purchasing an additional 368 shares during the last quarter. Trust Co. of Toledo NA OH increased its position in shares of Weyerhaeuser by 0.9% during the 3rd 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. Finally, Capital Investment Advisors LLC raised its stake in shares of Weyerhaeuser by 5.3% during the 3rd quarter. Capital Investment Advisors LLC now owns 8,294 shares of the real estate investment trust’s stock worth $281,000 after purchasing an additional 414 shares during the period. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director James Calvin O’rourke acquired 7,800 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were bought at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the transaction, the director now owns 17,672 shares in the company, valued at approximately $565,680.72. This trade represents a 79.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Albert Monaco bought 31,500 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the purchase, the director now directly owns 70,726 shares of the company’s stock, valued at $2,219,381.88. This represents a 80.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

WY has been the topic of several research reports. Argus raised shares of Weyerhaeuser to a “hold” rating in a research report on Friday, August 9th. Truist Financial boosted their target price on Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research note on Tuesday, October 15th. StockNews.com downgraded Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. DA Davidson lowered their price objective on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Monday, July 29th. Finally, Royal Bank of Canada increased their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, July 29th. One equities research 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. According to MarketBeat.com, Weyerhaeuser has a consensus rating of “Hold” and a consensus price target of $36.33.

Weyerhaeuser Stock Performance

Shares of WY opened at $31.24 on Friday. Weyerhaeuser has a 52-week low of $26.73 and a 52-week high of $36.27. The stock’s 50-day simple moving average is $32.28 and its 200 day simple moving average is $30.78. 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 stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 42.22 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last announced 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 net margin of 7.43% and a return on equity of 4.21%. The firm had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.70 billion. During the same period in the prior year, the firm posted $0.33 earnings per share. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. Research analysts forecast that Weyerhaeuser will post 0.46 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s payout ratio is 108.11%.

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.