PNC Financial Services Group Inc. Decreases Stock Position in Weyerhaeuser (NYSE:WY)

PNC Financial Services Group Inc. trimmed its position in shares of Weyerhaeuser (NYSE:WY) by 0.7% in the 3rd quarter, Holdings Channel reports. The firm owned 152,315 shares of the real estate investment trust’s stock after selling 1,025 shares during the period. PNC Financial Services Group Inc.’s holdings in Weyerhaeuser were worth $5,157,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Weyerhaeuser in the 3rd quarter valued at about $1,424,000. Meeder Asset Management Inc. grew its position in shares of Weyerhaeuser by 172.4% in the third quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 719 shares in the last quarter. Quest Partners LLC increased its holdings in shares of Weyerhaeuser by 146.4% in the third quarter. Quest Partners LLC now owns 96,621 shares of the real estate investment trust’s stock valued at $3,272,000 after purchasing an additional 57,412 shares during the last quarter. Mutual of America Capital Management LLC lifted its position in Weyerhaeuser by 5.3% during the third quarter. Mutual of America Capital Management LLC now owns 189,758 shares of the real estate investment trust’s stock worth $6,425,000 after buying an additional 9,569 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Weyerhaeuser by 7.2% in the 3rd quarter. Natixis Advisors LLC now owns 159,987 shares of the real estate investment trust’s stock valued at $5,417,000 after buying an additional 10,798 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Weyerhaeuser

In related news, Director Albert Monaco purchased 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, with a total value of $988,470.00. Following the completion of the transaction, the director now owns 70,726 shares of the company’s stock, valued at approximately $2,219,381.88. This represents a 80.30 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James Calvin O’rourke purchased 7,800 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were purchased at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the purchase, the director now directly owns 17,672 shares in the company, valued at $565,680.72. The trade was a 79.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. DA Davidson dropped their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Monday, July 29th. Royal Bank of Canada upped 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. Citigroup lowered their price target on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. Truist Financial boosted their price objective 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, BMO Capital Markets reiterated a “market perform” rating and set a $38.00 price target on shares of Weyerhaeuser in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Weyerhaeuser currently has a consensus rating of “Hold” and an average price target of $36.33.

Weyerhaeuser Stock Performance

NYSE WY opened at $31.24 on Friday. The business’s 50-day moving average price is $32.28 and its 200 day moving average price is $30.78. Weyerhaeuser has a 52-week low of $26.73 and a 52-week high of $36.27. The firm has a market cap of $22.70 billion, a P/E ratio of 42.22 and a beta of 1.40. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The company 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%. Weyerhaeuser’s quarterly revenue was down 13.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, equities research analysts expect that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s dividend payout ratio is presently 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.