Pinnacle Associates Ltd. Sells 1,469 Shares of Weyerhaeuser (NYSE:WY)

Pinnacle Associates Ltd. lowered its stake in Weyerhaeuser (NYSE:WY) by 7.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,187 shares of the real estate investment trust’s stock after selling 1,469 shares during the period. Pinnacle Associates Ltd.’s holdings in Weyerhaeuser were worth $598,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Swedbank AB bought a new stake in Weyerhaeuser during the first quarter worth $106,141,000. Price T Rowe Associates Inc. MD lifted its position in shares of Weyerhaeuser by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock worth $1,840,807,000 after buying an additional 2,874,101 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Weyerhaeuser by 30.4% in 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 in the last quarter. M&G Plc bought a new position in Weyerhaeuser in the first quarter valued at about $60,792,000. Finally, Millennium Management LLC raised its stake in Weyerhaeuser by 512.3% during the second 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 in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Trading Up 0.1 %

NYSE WY opened at $31.18 on Friday. The firm has a market capitalization of $22.65 billion, a PE ratio of 42.14 and a beta of 1.40. The business’s 50-day moving average price is $32.14 and its two-hundred day moving average price is $30.78. The company has a current ratio of 2.01, a quick ratio of 1.41 and a debt-to-equity ratio of 0.49. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The company’s revenue for the quarter 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. On average, analysts expect that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a yield of 2.57%. Weyerhaeuser’s dividend payout ratio (DPR) is currently 108.11%.

Insiders Place Their Bets

In other Weyerhaeuser news, Director Albert Monaco bought 31,500 shares of the stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the acquisition, the director now owns 70,726 shares in the company, valued at $2,219,381.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Albert Monaco purchased 31,500 shares of Weyerhaeuser stock in a transaction on Monday, August 26th. The stock was acquired at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the completion of the acquisition, the director now owns 70,726 shares of the company’s stock, valued at $2,219,381.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Calvin O’rourke acquired 7,800 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were 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 approximately $565,680.72. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

WY has been the topic of a number of research analyst reports. Citigroup reduced their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. StockNews.com downgraded shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Monday, October 28th. Truist Financial raised their price objective on Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a report on Tuesday, October 15th. DA Davidson lowered their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, July 29th. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $36.33.

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.