PNC Financial Services Group Inc. reduced its position in shares of Weyerhaeuser (NYSE:WY – Free Report) by 16.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 180,040 shares of the real estate investment trust’s stock after selling 36,388 shares during the period. PNC Financial Services Group Inc.’s holdings in Weyerhaeuser were worth $5,520,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of WY. Millburn Ridgefield Corp acquired a new stake in Weyerhaeuser during the third quarter worth about $25,000. Eagle Bay Advisors LLC acquired a new stake in shares of Weyerhaeuser during the second quarter valued at about $26,000. Tyler Stone Wealth Management acquired a new stake in shares of Weyerhaeuser during the second quarter valued at about $36,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Weyerhaeuser during the first quarter valued at about $36,000. Finally, Rational Advisors LLC acquired a new stake in shares of Weyerhaeuser during the third quarter valued at about $40,000. 79.54% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at Weyerhaeuser
In other news, CFO David M. Wold sold 924 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $32.84, for a total transaction of $30,344.16. Following the transaction, the chief financial officer now directly owns 60,655 shares of the company’s stock, valued at approximately $1,991,910.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Devin W. Stockfish sold 29,008 shares of the business’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $34.54, for a total value of $1,001,936.32. Following the sale, the chief executive officer now directly owns 711,070 shares in the company, valued at approximately $24,560,357.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Wold sold 924 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $32.84, for a total transaction of $30,344.16. Following the completion of the sale, the chief financial officer now owns 60,655 shares in the company, valued at $1,991,910.20. The disclosure for this sale can be found here. Insiders have sold a total of 39,278 shares of company stock valued at $1,355,847 in the last ninety days. 0.27% of the stock is currently owned by company insiders.
Weyerhaeuser Stock Performance
Shares of WY opened at $32.99 on Tuesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.22 and a current ratio of 2.94. The stock has a market capitalization of $24.08 billion, a P/E ratio of 28.69 and a beta of 1.43. The company’s fifty day moving average is $33.47 and its two-hundred day moving average is $32.06. Weyerhaeuser has a 1 year low of $27.65 and a 1 year high of $35.14.
Weyerhaeuser (NYSE:WY – Get Free Report) last announced its quarterly earnings data on Friday, January 26th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. Weyerhaeuser had a net margin of 10.93% and a return on equity of 7.36%. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same period in the previous year, the company posted $0.24 EPS. Weyerhaeuser’s revenue was down 2.7% compared to the same quarter last year. On average, sell-side analysts predict that Weyerhaeuser will post 1.03 earnings per share for the current year.
Weyerhaeuser Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.42%. Weyerhaeuser’s dividend payout ratio is 66.09%.
Analysts Set New Price Targets
WY has been the subject of several recent research reports. StockNews.com lowered shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $39.00 price target on shares of Weyerhaeuser in a research note on Monday, January 29th. Raymond James downgraded shares of Weyerhaeuser from a “strong-buy” rating to a “market perform” rating in a research report on Monday, November 27th. Finally, TheStreet downgraded shares of Weyerhaeuser from a “b-” rating to a “c+” rating in a research report on Friday, October 27th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.80.
Check Out Our Latest Stock Report on Weyerhaeuser
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.
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