Garner Asset Management Corp Sells 346 Shares of Weyerhaeuser (NYSE:WY)

Garner Asset Management Corp reduced its position in Weyerhaeuser (NYSE:WY) by 0.6% during the second quarter, HoldingsChannel reports. The firm owned 53,457 shares of the real estate investment trust’s stock after selling 346 shares during the period. Garner Asset Management Corp’s holdings in Weyerhaeuser were worth $1,518,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its holdings in Weyerhaeuser by 3.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 896,881 shares of the real estate investment trust’s stock valued at $32,207,000 after buying an additional 31,355 shares during the period. Slagle Financial LLC boosted its position in shares of Weyerhaeuser by 101.7% during the 4th quarter. Slagle Financial LLC now owns 114,270 shares of the real estate investment trust’s stock valued at $3,973,000 after purchasing an additional 57,608 shares in the last quarter. Public Employees Retirement Association of Colorado grew its stake in Weyerhaeuser by 1,548.8% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 79,850 shares of the real estate investment trust’s stock worth $2,776,000 after purchasing an additional 75,007 shares during the period. M&G Plc increased its holdings in Weyerhaeuser by 16.2% in the second quarter. M&G Plc now owns 1,961,969 shares of the real estate investment trust’s stock worth $54,935,000 after purchasing an additional 273,291 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Weyerhaeuser by 243.3% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 342,530 shares of the real estate investment trust’s stock valued at $12,300,000 after buying an additional 242,744 shares during the period. 82.99% of the stock is owned by institutional investors.

Insider Transactions at Weyerhaeuser

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

Weyerhaeuser Price Performance

Shares of NYSE WY opened at $33.11 on Thursday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.58 and a current ratio of 2.19. The firm’s 50-day simple moving average is $30.74 and its 200 day simple moving average is $31.22. The stock has a market cap of $24.14 billion, a price-to-earnings ratio of 30.10 and a beta of 1.40. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the prior year, the business earned $0.32 EPS. The firm’s revenue for the quarter was up 3.1% compared to the same quarter last year. As a group, research analysts anticipate that Weyerhaeuser will post 0.52 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.42%. Weyerhaeuser’s payout ratio is 72.73%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on WY. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, July 30th. DA Davidson reduced their price target 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. Royal Bank of Canada upped their price objective on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Argus upgraded Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Finally, Truist Financial dropped their price target on Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $35.83.

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.