Ridgewood Investments LLC Purchases Shares of 929 Weyerhaeuser (NYSE:WY)

Ridgewood Investments LLC acquired a new position in Weyerhaeuser (NYSE:WY) in the second quarter, HoldingsChannel reports. The firm acquired 929 shares of the real estate investment trust’s stock, valued at approximately $26,000.

Other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in Weyerhaeuser by 5.9% during the first 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 buying an additional 2,874,101 shares during the period. Wellington Management Group LLP grew its position in Weyerhaeuser by 53.2% during the 4th quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust’s stock worth $1,028,191,000 after acquiring an additional 10,271,891 shares during the last quarter. Norges Bank bought a new position in Weyerhaeuser during the 4th quarter worth approximately $753,497,000. Charles Schwab Investment Management Inc. lifted its position in Weyerhaeuser by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,011,223 shares of the real estate investment trust’s stock valued at $278,550,000 after purchasing an additional 198,789 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Weyerhaeuser by 3.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 6,599,173 shares of the real estate investment trust’s stock worth $187,351,000 after purchasing an additional 193,087 shares during the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Stock Down 0.8 %

WY stock traded down $0.25 on Friday, reaching $30.24. 390,325 shares of the company traded hands, compared to its average volume of 3,536,332. 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 0.48, a current ratio of 2.19 and a quick ratio of 1.58. The firm has a fifty day simple moving average of $29.78 and a 200-day simple moving average of $31.46. The company has a market cap of $21.99 billion, a P/E ratio of 27.48 and a beta of 1.39.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.98 billion. Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. Weyerhaeuser’s revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $0.32 EPS. Research analysts anticipate that Weyerhaeuser will post 0.59 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. Weyerhaeuser’s payout ratio is 72.73%.

Insider Transactions at Weyerhaeuser

In other Weyerhaeuser news, Director Albert Monaco purchased 31,500 shares of Weyerhaeuser stock in a transaction dated 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 transaction, the director now directly owns 70,726 shares of the company’s stock, valued at $2,219,381.88. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Albert Monaco bought 31,500 shares of Weyerhaeuser stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $31.38 per share, with a total value of $988,470.00. Following the acquisition, the director now owns 70,726 shares of the company’s stock, valued at approximately $2,219,381.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $29.40, for a total transaction of $169,814.40. Following the sale, the director now owns 5,790 shares in the company, valued at approximately $170,226. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on WY shares. Royal Bank of Canada increased their price target on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. Truist Financial cut their target price on Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 price target on shares of Weyerhaeuser in a research report on Tuesday, July 30th. DA Davidson reduced their target price 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, Argus raised Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Weyerhaeuser has an average rating of “Hold” and an average target price of $35.83.

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.