Pinnacle Financial Partners Inc Grows Stock Holdings in Weyerhaeuser (NYSE:WY)

Pinnacle Financial Partners Inc boosted its position in shares of Weyerhaeuser (NYSE:WY) by 0.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 389,311 shares of the real estate investment trust’s stock after buying an additional 1,190 shares during the period. Pinnacle Financial Partners Inc’s holdings in Weyerhaeuser were worth $13,182,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WY. Swedbank AB purchased a new position in Weyerhaeuser during the 1st quarter worth approximately $106,141,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of Weyerhaeuser by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock worth $1,840,807,000 after acquiring an additional 2,874,101 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Weyerhaeuser by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock worth $291,306,000 after buying an additional 2,004,073 shares during the period. M&G Plc acquired a new position in shares of Weyerhaeuser during the first quarter worth $60,792,000. Finally, Millennium Management LLC boosted its holdings in shares of Weyerhaeuser by 512.3% in the 2nd quarter. Millennium Management LLC now owns 1,563,454 shares of the real estate investment trust’s stock valued at $44,386,000 after buying an additional 1,308,125 shares in the last quarter. Hedge funds and other institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Trading Down 2.1 %

Shares of WY stock opened at $30.68 on Wednesday. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The business’s 50 day moving average is $32.27 and its two-hundred day moving average is $30.78. The company has a market cap of $22.29 billion, a PE ratio of 41.46 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 posted its earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. Weyerhaeuser’s revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. Equities analysts predict that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 2.61%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s dividend payout ratio is presently 108.11%.

Insider Activity at Weyerhaeuser

In other Weyerhaeuser news, Director Albert Monaco acquired 31,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were acquired 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 directly owns 70,726 shares in the company, valued at $2,219,381.88. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Weyerhaeuser news, Director James Calvin O’rourke bought 7,800 shares of the firm’s 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 transaction, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Albert Monaco purchased 31,500 shares of Weyerhaeuser stock in a transaction dated 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 completion of 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. 0.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on WY shares. Argus upgraded shares of Weyerhaeuser to a “hold” rating in a research note on Friday, August 9th. BMO Capital Markets reiterated a “market perform” rating and issued a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. Citigroup dropped their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Royal Bank of Canada increased 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. Finally, DA Davidson dropped their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Monday, July 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.33.

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.