Procyon Advisors LLC Purchases 1,922 Shares of Weyerhaeuser (NYSE:WY)

Procyon Advisors LLC boosted its position in Weyerhaeuser (NYSE:WY) by 3.1% during the third quarter, Holdings Channel reports. The fund owned 63,109 shares of the real estate investment trust’s stock after acquiring an additional 1,922 shares during the period. Procyon Advisors LLC’s holdings in Weyerhaeuser were worth $2,137,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. American National Bank boosted its position in Weyerhaeuser by 171.5% during the first quarter. American National Bank now owns 763 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 482 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Weyerhaeuser during the first quarter valued at about $33,000. Ridgewood Investments LLC purchased a new stake in Weyerhaeuser during the second quarter valued at about $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Weyerhaeuser by 4,884.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 928 shares during the period. Finally, Itau Unibanco Holding S.A. purchased a new stake in Weyerhaeuser during the second quarter valued at about $27,000. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Price Performance

WY stock opened at $32.60 on Tuesday. Weyerhaeuser has a 1 year low of $26.73 and a 1 year high of $36.27. The company has a market cap of $23.77 billion, a P/E ratio of 29.64 and a beta of 1.40. The firm has a 50-day moving average of $31.70 and a 200 day moving average of $30.98. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.19 and a quick ratio of 1.58.

Weyerhaeuser (NYSE:WY) last released 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). Weyerhaeuser had a return on equity of 6.19% and a net margin of 9.89%. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.98 billion. During the same period in the previous year, the company earned $0.32 earnings per share. Weyerhaeuser’s quarterly revenue was up 3.1% on a year-over-year basis. On average, sell-side analysts forecast that Weyerhaeuser will post 0.51 EPS for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 30th. This represents a $0.80 annualized dividend and a dividend yield of 2.45%. Weyerhaeuser’s payout ratio is 72.73%.

Insider Activity

In other Weyerhaeuser news, Director James Calvin O’rourke bought 7,800 shares of the stock in a transaction dated Friday, September 13th. The stock was purchased at an average cost of $32.01 per share, for a total transaction of $249,678.00. Following the completion of the acquisition, the director now owns 17,672 shares of the company’s stock, valued at approximately $565,680.72. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Albert Monaco acquired 31,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $31.38 per share, for a total transaction of $988,470.00. Following the acquisition, the director now directly owns 70,726 shares in the company, valued at approximately $2,219,381.88. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Calvin O’rourke bought 7,800 shares of the business’s stock in a transaction on Friday, September 13th. The stock was bought at an average cost of $32.01 per share, with a total value of $249,678.00. Following the transaction, the director now owns 17,672 shares in the company, valued at $565,680.72. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. DA Davidson dropped their target price on shares of Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating for the company in a report on Monday, July 29th. Truist Financial dropped their target price on shares of Weyerhaeuser from $32.00 to $31.00 and set a “hold” rating for the company in a report on Monday, July 29th. BMO Capital Markets reiterated a “market perform” rating and set a $38.00 target price on shares of Weyerhaeuser in a report on Tuesday, July 30th. Argus upgraded shares of Weyerhaeuser to a “hold” rating in a report on Friday, August 9th. Finally, Royal Bank of Canada increased their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Weyerhaeuser presently has an average rating of “Hold” and a consensus price target of $35.83.

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.