Pinnacle West Asset Management Inc. Purchases 775 Shares of Weyerhaeuser (NYSE:WY)

Pinnacle West Asset Management Inc. grew its position in Weyerhaeuser (NYSE:WY) by 7.5% in the third quarter, HoldingsChannel.com reports. The fund owned 11,065 shares of the real estate investment trust’s stock after buying an additional 775 shares during the period. Pinnacle West Asset Management Inc.’s holdings in Weyerhaeuser were worth $375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of WY. Oakworth Capital Inc. bought a new position in shares of Weyerhaeuser in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC bought a new position in shares of Weyerhaeuser in the 2nd quarter valued at about $26,000. Itau Unibanco Holding S.A. bought a new position in shares of Weyerhaeuser in the 2nd quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of Weyerhaeuser by 4,884.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 928 shares during the period. Finally, Park Place Capital Corp grew its position 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. Institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on WY. Citigroup reduced their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Tuesday, July 30th. DA Davidson reduced their target price 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 lifted their price objective on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, July 29th. Truist Financial lifted their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the stock a “hold” rating in a research note on Tuesday, October 15th. Finally, Argus upgraded shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Weyerhaeuser presently has a consensus rating of “Hold” and an average target price of $36.33.

Weyerhaeuser Stock Up 0.0 %

WY traded up $0.01 during trading on Thursday, hitting $31.86. 640,937 shares of the company’s stock were exchanged, compared to its average volume of 3,619,003. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.48. The business’s 50 day moving average is $31.97 and its two-hundred day moving average is $30.88. Weyerhaeuser has a fifty-two week low of $26.73 and a fifty-two week high of $36.27. The stock has a market cap of $23.17 billion, a P/E ratio of 30.92 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data 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 return on equity of 6.19% and a net margin of 9.89%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter in the previous year, the company posted $0.32 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, equities analysts expect that Weyerhaeuser will post 0.48 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a yield of 2.51%. Weyerhaeuser’s payout ratio is 77.67%.

Insiders Place Their Bets

In other Weyerhaeuser news, Director James Calvin O’rourke acquired 7,800 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the acquisition, the director now owns 17,672 shares in the company, valued at approximately $565,680.72. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Weyerhaeuser news, Director James Calvin O’rourke acquired 7,800 shares of the stock in a transaction on Friday, September 13th. The shares were purchased at an average price of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the acquisition, the director now owns 17,672 shares in the company, valued at approximately $565,680.72. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Albert Monaco acquired 31,500 shares of the stock in a transaction on Monday, August 26th. The shares were acquired at an average price of $31.38 per share, for a total transaction of $988,470.00. Following the acquisition, the director now owns 70,726 shares of the company’s stock, valued at approximately $2,219,381.88. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

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.