Davidson Investment Advisors trimmed its stake in Weyerhaeuser Co (NYSE:WY) by 1.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,715 shares of the real estate investment trust’s stock after selling 350 shares during the period. Davidson Investment Advisors’ holdings in Weyerhaeuser were worth $657,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WY. Vanguard Group Inc. boosted its holdings in Weyerhaeuser by 12.4% in the 2nd quarter. Vanguard Group Inc. now owns 107,715,183 shares of the real estate investment trust’s stock valued at $2,837,219,000 after purchasing an additional 11,845,982 shares during the period. Nuveen Asset Management LLC acquired a new position in Weyerhaeuser in the second quarter valued at about $197,323,000. FMR LLC increased its stake in Weyerhaeuser by 336.8% during the first quarter. FMR LLC now owns 2,072,642 shares of the real estate investment trust’s stock worth $54,594,000 after purchasing an additional 1,598,165 shares during the period. Jennison Associates LLC purchased a new stake in Weyerhaeuser during the second quarter worth about $28,920,000. Finally, Renaissance Technologies LLC increased its stake in Weyerhaeuser by 748.8% during the second quarter. Renaissance Technologies LLC now owns 1,164,540 shares of the real estate investment trust’s stock worth $30,674,000 after purchasing an additional 1,027,340 shares during the period. Institutional investors and hedge funds own 76.90% of the company’s stock.
WY has been the topic of a number of recent research reports. Royal Bank of Canada reiterated a “buy” rating on shares of Weyerhaeuser in a research note on Tuesday, September 17th. Bank of America set a $31.00 price target on shares of Weyerhaeuser and gave the stock a “hold” rating in a research note on Friday, October 25th. ValuEngine upgraded shares of Weyerhaeuser from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Scotiabank set a $28.50 price target on shares of Weyerhaeuser and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, BMO Capital Markets set a $32.00 price target on shares of Weyerhaeuser and gave the stock a “buy” rating in a research note on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. Weyerhaeuser presently has a consensus rating of “Buy” and an average target price of $30.93.
Weyerhaeuser (NYSE:WY) last released its earnings results on Friday, October 25th. The real estate investment trust reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.02). Weyerhaeuser had a positive return on equity of 3.78% and a negative net margin of 2.33%. The firm had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was down 12.5% on a year-over-year basis. As a group, equities analysts anticipate that Weyerhaeuser Co will post 0.4 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 4.61%. Weyerhaeuser’s payout ratio is currently 115.25%.
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.2 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.
Featured Story: Outstanding Shares
Want to see what other hedge funds are holding WY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Weyerhaeuser Co (NYSE:WY).
Receive News & Ratings for Weyerhaeuser Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Weyerhaeuser and related companies with MarketBeat.com's FREE daily email newsletter.