Victory Capital Management Inc. Grows Stake in Weyerhaeuser (NYSE:WY)

Victory Capital Management Inc. raised its position in shares of Weyerhaeuser (NYSE:WY) by 11.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 457,002 shares of the real estate investment trust’s stock after buying an additional 48,137 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Weyerhaeuser worth $15,474,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Oakworth Capital Inc. bought a new stake in shares of Weyerhaeuser in the 3rd quarter valued at approximately $25,000. Ridgewood Investments LLC purchased a new position in Weyerhaeuser during the 2nd quarter worth $26,000. Itau Unibanco Holding S.A. purchased a new position in Weyerhaeuser during the 2nd quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in Weyerhaeuser by 4,884.2% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 928 shares during the period. Finally, Park Place Capital Corp increased its holdings in shares of Weyerhaeuser by 440.5% in the 2nd quarter. Park Place Capital Corp now owns 1,227 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 1,000 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several research analysts recently weighed in on WY shares. DA Davidson dropped 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. Royal Bank of Canada lifted their price target on Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. StockNews.com lowered Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Monday, October 28th. BMO Capital Markets reiterated a “market perform” rating and set a $38.00 price objective on shares of Weyerhaeuser in a research note on Tuesday, July 30th. Finally, Truist Financial upped their price target on Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. One 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 stock. According to data from MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Hold” and an average target price of $36.33.

Weyerhaeuser Stock Performance

NYSE:WY opened at $30.68 on Wednesday. The firm has a market capitalization of $22.29 billion, a PE ratio of 41.45 and a beta of 1.40. The business’s fifty day moving average price is $32.32 and its 200 day moving average price 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 has a 12 month low of $26.73 and a 12 month high of $36.27.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The company had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was down 13.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Weyerhaeuser will post 0.46 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.61%. Weyerhaeuser’s payout ratio is currently 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.