Kentucky Retirement Systems Insurance Trust Fund Trims Holdings in Weyerhaeuser (NYSE:WY)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of Weyerhaeuser (NYSE:WY) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,534 shares of the real estate investment trust’s stock after selling 1,980 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Weyerhaeuser were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Swedbank AB purchased a new stake in Weyerhaeuser during the first quarter valued at about $106,141,000. Price T Rowe Associates Inc. MD raised its stake in shares of 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 acquiring an additional 2,874,101 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Weyerhaeuser by 30.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock valued at $291,306,000 after buying an additional 2,004,073 shares during the period. Millennium Management LLC grew its holdings in shares of Weyerhaeuser by 512.3% during the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock worth $44,386,000 after acquiring an additional 1,308,125 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of Weyerhaeuser by 2,221.8% in the 3rd quarter. Van ECK Associates Corp now owns 1,245,633 shares of the real estate investment trust’s stock worth $39,674,000 after acquiring an additional 1,191,983 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WY shares. DA Davidson cut their price objective on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. Argus raised Weyerhaeuser to a “hold” rating in a research report on Friday, August 9th. BMO Capital Markets reissued a “market perform” rating and issued a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. 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. Finally, StockNews.com cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $36.33.

Insider Activity at Weyerhaeuser

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 stock was bought at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the acquisition, the director now directly owns 17,672 shares of the company’s stock, valued at $565,680.72. This represents a 79.01 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Albert Monaco bought 31,500 shares of the company’s stock in a transaction on Monday, August 26th. The stock was bought 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 directly owns 70,726 shares in the company, valued at approximately $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. 0.30% of the stock is currently owned by insiders.

Weyerhaeuser Trading Up 0.3 %

Shares of WY stock opened at $31.02 on Tuesday. The company has a market cap of $22.54 billion, a PE ratio of 41.92 and a beta of 1.40. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27. The stock’s 50 day simple moving average is $32.32 and its two-hundred day simple moving average is $30.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. Weyerhaeuser’s quarterly revenue was down 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. Research analysts predict that Weyerhaeuser will post 0.46 earnings per share 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 paid a dividend of $0.20 per share. The ex-dividend date is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

Weyerhaeuser 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.