Meyer Handelman Co. Lowers Stock Holdings in Weyerhaeuser (NYSE:WY)

Meyer Handelman Co. trimmed its position in shares of Weyerhaeuser (NYSE:WY) by 13.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,886 shares of the real estate investment trust’s stock after selling 12,417 shares during the quarter. Meyer Handelman Co.’s holdings in Weyerhaeuser were worth $2,833,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Weyerhaeuser by 1.9% in 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 purchasing an additional 888,621 shares in the last quarter. Wellington Management Group LLP raised its position in Weyerhaeuser by 53.2% in the 4th quarter. Wellington Management Group LLP now owns 29,571,219 shares of the real estate investment trust’s stock valued at $1,028,191,000 after purchasing an additional 10,271,891 shares in the last quarter. Norges Bank acquired a new stake in Weyerhaeuser in the 4th quarter valued at about $753,497,000. JPMorgan Chase & Co. raised its position in Weyerhaeuser by 0.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 21,065,844 shares of the real estate investment trust’s stock valued at $645,879,000 after purchasing an additional 58,688 shares in the last quarter. Finally, Northern Trust Corp raised its position in Weyerhaeuser by 4.7% in the 3rd quarter. Northern Trust Corp now owns 11,843,748 shares of the real estate investment trust’s stock valued at $363,129,000 after purchasing an additional 532,923 shares in the last quarter. Institutional investors and hedge funds own 82.99% of the company’s stock.

Weyerhaeuser Trading Up 1.3 %

NYSE:WY opened at $29.02 on Friday. The stock’s 50 day moving average price is $30.42 and its 200 day moving average price is $32.63. The company has a market capitalization of $21.16 billion, a PE ratio of 26.38 and a beta of 1.43. The company has a quick ratio of 1.57, a current ratio of 2.24 and a debt-to-equity ratio of 0.48. Weyerhaeuser has a 52-week low of $28.26 and a 52-week high of $36.27.

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

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors 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 dividend on an annualized basis and a yield of 2.76%. Weyerhaeuser’s dividend payout ratio is presently 72.73%.

Insider Buying and Selling

In related 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 transaction of $169,814.40. Following 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 Securities & Exchange Commission, which is available at this link. In other Weyerhaeuser news, SVP Keith O’rear sold 8,349 shares of Weyerhaeuser stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $36.03, for a total value of $300,814.47. Following the transaction, the senior vice president now directly owns 170,665 shares in the company, valued at approximately $6,149,059.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of Weyerhaeuser stock in a transaction that occurred on Friday, June 7th. The shares were 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 $170,226. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WY shares. CIBC set a $37.00 price target on Weyerhaeuser and gave the company a “neutral” rating in a research report on Wednesday, March 13th. BMO Capital Markets raised their target price on Weyerhaeuser from $36.00 to $38.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Royal Bank of Canada cut their target price on Weyerhaeuser from $38.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, April 29th. Finally, Truist Financial reissued a “hold” rating and set a $36.00 target price on shares of Weyerhaeuser in a research report on Wednesday, April 3rd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $37.67.

About Weyerhaeuser

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.