ING Groep NV Sells 97,272 Shares of Weyerhaeuser (NYSE:WY)

ING Groep NV cut its holdings in Weyerhaeuser (NYSE:WY) by 50.7% during the fourth quarter, HoldingsChannel reports. The firm owned 94,500 shares of the real estate investment trust’s stock after selling 97,272 shares during the period. ING Groep NV’s holdings in Weyerhaeuser were worth $2,660,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Truist Financial Corp increased its position in Weyerhaeuser by 2.8% in the 4th quarter. Truist Financial Corp now owns 50,889 shares of the real estate investment trust’s stock worth $1,433,000 after buying an additional 1,373 shares during the period. CIBC Asset Management Inc increased its position in Weyerhaeuser by 4.4% during the fourth quarter. CIBC Asset Management Inc now owns 111,135 shares of the real estate investment trust’s stock worth $3,128,000 after acquiring an additional 4,733 shares during the period. Principal Financial Group Inc. increased its position in Weyerhaeuser by 9.0% during the fourth quarter. Principal Financial Group Inc. now owns 3,603,437 shares of the real estate investment trust’s stock worth $101,439,000 after acquiring an additional 299,020 shares during the period. J.W. Cole Advisors Inc. raised its stake in Weyerhaeuser by 6.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 19,997 shares of the real estate investment trust’s stock valued at $563,000 after purchasing an additional 1,216 shares during the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Weyerhaeuser in the 4th quarter valued at $365,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on WY. Cibc World Mkts upgraded shares of Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Truist Financial cut their price target on Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating for the company in a report on Monday, January 6th. StockNews.com upgraded Weyerhaeuser from a “sell” rating to a “hold” rating in a research report on Thursday, February 6th. BMO Capital Markets upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Friday, December 6th. Finally, Raymond James raised Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Weyerhaeuser currently has a consensus rating of “Moderate Buy” and an average target price of $35.00.

Weyerhaeuser Price Performance

Weyerhaeuser stock opened at $29.69 on Friday. The business has a 50 day simple moving average of $29.26 and a 200 day simple moving average of $30.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.79 and a quick ratio of 1.17. The company has a market capitalization of $21.54 billion, a PE ratio of 53.97, a price-to-earnings-growth ratio of 4.74 and a beta of 1.42. Weyerhaeuser has a one year low of $26.73 and a one year high of $36.27.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.04. Weyerhaeuser had a return on equity of 3.86% and a net margin of 5.56%. On average, sell-side analysts forecast that Weyerhaeuser will post 0.78 EPS for the current fiscal year.

Weyerhaeuser Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 7th will be given a $0.21 dividend. The ex-dividend date is Friday, March 7th. This is a positive change from Weyerhaeuser’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 2.83%. Weyerhaeuser’s payout ratio is 145.46%.

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.