Woodmont Investment Counsel LLC Sells 2,604 Shares of Weyerhaeuser (NYSE:WY)

Woodmont Investment Counsel LLC decreased its position in shares of Weyerhaeuser (NYSE:WY) by 2.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,268 shares of the real estate investment trust’s stock after selling 2,604 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in Weyerhaeuser were worth $3,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Weyerhaeuser during the fourth quarter valued at approximately $753,497,000. Wellington Management Group LLP boosted its position in Weyerhaeuser by 53.2% in the fourth quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust’s stock worth $1,028,191,000 after purchasing an additional 10,271,891 shares during the last quarter. Confluence Investment Management LLC purchased a new position in shares of Weyerhaeuser during the 1st quarter valued at $81,507,000. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Weyerhaeuser during the 4th quarter valued at $36,237,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Weyerhaeuser by 1.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 48,387,553 shares of the real estate investment trust’s stock valued at $1,682,437,000 after buying an additional 888,621 shares during the last quarter. Institutional investors own 82.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WY. BMO Capital Markets upped their price target on Weyerhaeuser from $36.00 to $38.00 and gave the company a “market perform” rating in a research report on Friday, March 22nd. Royal Bank of Canada decreased their price objective on Weyerhaeuser from $38.00 to $37.00 and set an “outperform” rating on the stock in a research note on Monday, April 29th. Truist Financial reiterated a “hold” rating and set a $36.00 price objective on shares of Weyerhaeuser in a research note on Wednesday, April 3rd. Finally, CIBC set a $37.00 price objective on Weyerhaeuser and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Weyerhaeuser has an average rating of “Hold” and a consensus price target of $37.67.

Weyerhaeuser Price Performance

NYSE WY traded down $0.06 during trading on Tuesday, reaching $27.50. The company’s stock had a trading volume of 1,452,228 shares, compared to its average volume of 3,454,409. The stock has a market capitalization of $20.05 billion, a PE ratio of 25.05 and a beta of 1.39. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.24 and a quick ratio of 1.57. The firm has a fifty day moving average of $30.07 and a 200 day moving average of $32.54. Weyerhaeuser has a one year low of $27.31 and a one year high of $36.27.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, April 25th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Weyerhaeuser had a return on equity of 7.00% and a net margin of 10.57%. The firm had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the firm earned $0.21 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. Analysts expect that Weyerhaeuser will post 1 EPS for the current fiscal year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 31st were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.80 annualized dividend and a dividend yield of 2.91%. Weyerhaeuser’s dividend payout ratio (DPR) is presently 72.73%.

Insider Activity

In other news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $29.40, for a total value of $169,814.40. Following the completion of the transaction, the director now owns 5,790 shares in the company, valued at approximately $170,226. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.30% 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.