Weyerhaeuser (NYSE:WY) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. reduced its position in Weyerhaeuser (NYSE:WY) by 6.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,531 shares of the real estate investment trust’s stock after selling 3,770 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Weyerhaeuser were worth $1,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new stake in shares of Weyerhaeuser in the second quarter valued at approximately $26,000. American National Bank increased its holdings in Weyerhaeuser by 171.5% in the 1st quarter. American National Bank now owns 763 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 482 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Weyerhaeuser in the 1st quarter worth $33,000. Park Place Capital Corp raised its position in Weyerhaeuser by 440.5% during the second quarter. Park Place Capital Corp now owns 1,227 shares of the real estate investment trust’s stock worth $35,000 after acquiring an additional 1,000 shares during the period. Finally, Register Financial Advisors LLC purchased a new position in Weyerhaeuser during the first quarter valued at $36,000. 82.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WY. Truist Financial reduced their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Monday, July 29th. Royal Bank of Canada raised their target price on Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. DA Davidson dropped their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Monday, July 29th. Argus raised Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Finally, Citigroup lowered their target price 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Weyerhaeuser presently has a consensus rating of “Hold” and a consensus price target of $35.83.

Insider Activity

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

Weyerhaeuser Stock Performance

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

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). Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same period in the previous year, the firm posted $0.32 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. On average, research analysts anticipate that Weyerhaeuser will post 0.52 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

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

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.