Weyerhaeuser (NYSE:WY) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in Weyerhaeuser (NYSE:WY) by 6.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,720 shares of the real estate investment trust’s stock after selling 800 shares during the quarter. King Luther Capital Management Corp’s holdings in Weyerhaeuser were worth $363,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Oakworth Capital Inc. purchased a new stake in shares of Weyerhaeuser in the 3rd quarter valued at about $25,000. Ridgewood Investments LLC acquired a new stake in shares of Weyerhaeuser in the second quarter valued at approximately $26,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Weyerhaeuser in the second quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings 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 raised its position in 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 purchasing an additional 1,000 shares during the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WY. Argus upgraded shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. Royal Bank of Canada upped their price objective on Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. DA Davidson dropped their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, July 29th. BMO Capital Markets reaffirmed a “market perform” rating and set a $38.00 price target on shares of Weyerhaeuser in a report on Tuesday, July 30th. Finally, 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 research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $36.33.

Insider Buying and Selling at Weyerhaeuser

In related news, Director Albert Monaco bought 31,500 shares of the stock in a transaction on Monday, August 26th. The shares were purchased 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 in the company, valued at $2,219,381.88. This represents a 80.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Calvin O’rourke purchased 7,800 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $32.01 per share, with a total value of $249,678.00. Following the completion of the acquisition, 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 disclosure for this purchase can be found here. 0.27% of the stock is owned by corporate insiders.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $31.24 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.41 and a current ratio of 2.01. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27. The company has a market cap of $22.70 billion, a P/E ratio of 42.22 and a beta of 1.40. The business has a fifty day moving average of $32.28 and a two-hundred day moving average of $30.78.

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

Weyerhaeuser Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a dividend of $0.20 per share. The ex-dividend date is Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a yield of 2.56%. Weyerhaeuser’s payout ratio is 108.11%.

Weyerhaeuser Company 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.