Kentucky Retirement Systems Lowers Stock Position in Weyerhaeuser (NYSE:WY)

Kentucky Retirement Systems trimmed its stake in Weyerhaeuser (NYSE:WY) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,420 shares of the real estate investment trust’s stock after selling 2,988 shares during the period. Kentucky Retirement Systems’ holdings in Weyerhaeuser were worth $1,990,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Weyerhaeuser in the 4th quarter worth approximately $26,000. American National Bank lifted its position in Weyerhaeuser by 171.5% during the 1st quarter. American National Bank now owns 763 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 482 shares during the period. Lindbrook Capital LLC increased its holdings in shares of Weyerhaeuser by 92.6% in the fourth quarter. Lindbrook Capital LLC now owns 888 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 427 shares during the period. Northwest Investment Counselors LLC acquired a new stake in shares of Weyerhaeuser during the first quarter worth about $33,000. Finally, Register Financial Advisors LLC acquired a new stake in shares of Weyerhaeuser during the first quarter worth about $36,000. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Nicole Weyerhaeuser Piasecki sold 5,776 shares of Weyerhaeuser 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 sale, the director now directly owns 5,790 shares of the company’s stock, valued at $170,226. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.27% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have commented on WY. DA Davidson decreased their price objective on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada boosted their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Truist Financial cut their price target on Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $35.80.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock traded down $0.34 during trading hours on Monday, reaching $31.26. The stock had a trading volume of 903,365 shares, compared to its average volume of 3,495,430. The stock’s 50 day moving average is $29.24 and its 200 day moving average is $31.81. The company has a current ratio of 2.19, a quick ratio of 1.58 and a debt-to-equity ratio of 0.48. Weyerhaeuser has a twelve month low of $26.73 and a twelve month high of $36.27. The firm has a market capitalization of $22.79 billion, a PE ratio of 28.44 and a beta of 1.39.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings results on Thursday, July 25th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 EPS. Equities analysts expect that Weyerhaeuser will post 0.79 earnings per share for the current fiscal year.

Weyerhaeuser Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.56%. The ex-dividend date was Friday, May 31st. Weyerhaeuser’s payout ratio is presently 72.73%.

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.