Granite Investment Partners LLC Lowers Position in Weyerhaeuser (NYSE:WY)

Granite Investment Partners LLC decreased its stake in Weyerhaeuser (NYSE:WY) by 2.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,698 shares of the real estate investment trust’s stock after selling 2,980 shares during the quarter. Granite Investment Partners LLC’s holdings in Weyerhaeuser were worth $3,625,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Avantax Advisory Services Inc. grew its position in shares of Weyerhaeuser by 5.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 9,696 shares of the real estate investment trust’s stock worth $337,000 after purchasing an additional 544 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Weyerhaeuser by 14.0% during the fourth quarter. Quadrant Capital Group LLC now owns 3,426 shares of the real estate investment trust’s stock worth $119,000 after acquiring an additional 420 shares during the last quarter. UBS Group AG grew its stake in Weyerhaeuser by 0.8% during the fourth quarter. UBS Group AG now owns 1,566,906 shares of the real estate investment trust’s stock valued at $54,481,000 after acquiring an additional 12,219 shares in the last quarter. Corient Private Wealth LLC increased its holdings in Weyerhaeuser by 24.8% in the 4th quarter. Corient Private Wealth LLC now owns 409,668 shares of the real estate investment trust’s stock valued at $14,244,000 after acquiring an additional 81,539 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Weyerhaeuser in the 4th quarter worth $255,000. Institutional investors own 82.99% of the company’s stock.

Analyst Upgrades and Downgrades

WY has been the subject of a number of research reports. Argus upgraded Weyerhaeuser to a “hold” rating in a research report on Friday, August 9th. Royal Bank of Canada boosted their target price on Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, July 29th. BMO Capital Markets restated a “market perform” rating and issued a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. DA Davidson cut their price target on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Monday, July 29th. Finally, Citigroup dropped their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $35.83.

Weyerhaeuser Trading Down 1.0 %

WY opened at $33.24 on Friday. The company has a quick ratio of 1.58, a current ratio of 2.19 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $30.91 and its two-hundred day moving average is $31.22. The company has a market capitalization of $24.23 billion, a P/E ratio of 30.22 and a beta of 1.40. Weyerhaeuser has a 52 week low of $26.73 and a 52 week high of $36.27.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.01). Weyerhaeuser had a net margin of 9.89% and a return on equity of 6.19%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business’s revenue was up 3.1% compared to the same quarter last year. Analysts forecast that Weyerhaeuser will post 0.52 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.41%. Weyerhaeuser’s dividend payout ratio is presently 72.73%.

Insider Activity at Weyerhaeuser

In related news, Director James Calvin O’rourke bought 7,800 shares of the company’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $32.01 per share, with a total value of $249,678.00. Following the transaction, the director now owns 17,672 shares of the company’s stock, valued at $565,680.72. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Weyerhaeuser news, Director James Calvin O’rourke purchased 7,800 shares of Weyerhaeuser stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $32.01 per share, with a total value of $249,678.00. Following the completion of the transaction, the director now owns 17,672 shares in the company, valued at approximately $565,680.72. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Albert Monaco acquired 31,500 shares of the firm’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 acquisition, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. The disclosure for this purchase can be found here. 0.27% of the stock is currently owned by corporate insiders.

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.