QRG Capital Management Inc. Sells 91,653 Shares of Weyerhaeuser (NYSE:WY)

QRG Capital Management Inc. trimmed its position in Weyerhaeuser (NYSE:WY) by 23.1% in the 3rd quarter, Holdings Channel reports. The firm owned 305,666 shares of the real estate investment trust’s stock after selling 91,653 shares during the quarter. QRG Capital Management Inc.’s holdings in Weyerhaeuser were worth $10,350,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of WY. Swedbank AB bought a new position in Weyerhaeuser in the 1st quarter valued at $106,141,000. Price T Rowe Associates Inc. MD raised its position in shares of Weyerhaeuser by 5.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock valued at $1,840,807,000 after buying an additional 2,874,101 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of 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 valued at $291,306,000 after buying an additional 2,004,073 shares in the last quarter. M&G Plc purchased a new stake in shares of Weyerhaeuser during the 1st quarter valued at $60,792,000. Finally, Millennium Management LLC raised its position in shares of Weyerhaeuser by 512.3% during 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. 82.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Albert Monaco bought 31,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $31.38 per share, with a total value of $988,470.00. Following the purchase, the director now owns 70,726 shares of the company’s stock, valued at approximately $2,219,381.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Albert Monaco bought 31,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were purchased at an average price of $31.38 per share, with a total value of $988,470.00. Following the purchase, the director now owns 70,726 shares of the company’s stock, valued at approximately $2,219,381.88. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Calvin O’rourke bought 7,800 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the purchase, the director now directly owns 17,672 shares in the company, valued at approximately $565,680.72. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.30% of the company’s stock.

Weyerhaeuser Price Performance

Shares of Weyerhaeuser stock opened at $31.71 on Tuesday. The firm has a market cap of $23.04 billion, a PE ratio of 42.85 and a beta of 1.40. Weyerhaeuser has a 12-month low of $26.73 and a 12-month high of $36.27. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $32.15 and its two-hundred day simple moving average is $30.78.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings results on Thursday, October 24th. The real estate investment trust reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $1.68 billion for the quarter, compared to analyst estimates of $1.70 billion. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. The company’s revenue was down 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.33 EPS. As a group, equities analysts expect that Weyerhaeuser will post 0.46 EPS for the current year.

Weyerhaeuser Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Friday, August 30th. Weyerhaeuser’s dividend payout ratio (DPR) is presently 108.11%.

Analyst Ratings Changes

Several research firms have recently weighed in on WY. DA Davidson lowered their price objective 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. Argus upgraded shares of Weyerhaeuser to a “hold” rating in a research report on Friday, August 9th. Truist Financial raised their price objective on shares of Weyerhaeuser from $31.00 to $34.00 and gave the company a “hold” rating in a research report on Tuesday, October 15th. Citigroup decreased their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, StockNews.com cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Monday, October 28th. 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $36.33.

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.