Eastern Bank Sells 1,280 Shares of Weyerhaeuser Company $WY

Eastern Bank trimmed its position in Weyerhaeuser Company (NYSE:WY) by 32.8% during the second quarter, HoldingsChannel.com reports. The fund owned 2,620 shares of the real estate investment trust’s stock after selling 1,280 shares during the quarter. Eastern Bank’s holdings in Weyerhaeuser were worth $67,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Aberdeen Group plc boosted its position in Weyerhaeuser by 15.3% in the second quarter. Aberdeen Group plc now owns 1,094,098 shares of the real estate investment trust’s stock valued at $27,982,000 after buying an additional 144,885 shares in the last quarter. Strong Tower Advisory Services boosted its position in Weyerhaeuser by 6.1% in the second quarter. Strong Tower Advisory Services now owns 85,453 shares of the real estate investment trust’s stock valued at $2,195,000 after buying an additional 4,893 shares in the last quarter. Callan Family Office LLC acquired a new stake in Weyerhaeuser in the second quarter valued at approximately $208,000. Tectonic Advisors LLC boosted its position in Weyerhaeuser by 26.0% in the second quarter. Tectonic Advisors LLC now owns 19,860 shares of the real estate investment trust’s stock valued at $510,000 after buying an additional 4,098 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in Weyerhaeuser in the second quarter valued at approximately $1,729,000. Institutional investors and hedge funds own 82.99% of the company’s stock.

Analyst Ratings Changes

WY has been the topic of a number of research analyst reports. DA Davidson restated a “buy” rating and issued a $35.00 target price on shares of Weyerhaeuser in a research report on Monday, September 29th. Weiss Ratings restated a “hold (c-)” rating on shares of Weyerhaeuser in a research report on Wednesday, October 8th. CIBC cut their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Thursday, September 11th. Wall Street Zen lowered shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.88.

Weyerhaeuser Price Performance

WY stock opened at $23.95 on Monday. The firm has a market cap of $17.28 billion, a price-to-earnings ratio of 63.03, a PEG ratio of 210.53 and a beta of 1.05. The company has a quick ratio of 0.68, a current ratio of 1.04 and a debt-to-equity ratio of 0.45. Weyerhaeuser Company has a 12-month low of $23.92 and a 12-month high of $33.56. The company’s fifty day simple moving average is $25.30 and its 200 day simple moving average is $25.84.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.02. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.94 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. Weyerhaeuser’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 earnings per share. On average, analysts expect that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were issued a $0.21 dividend. The ex-dividend date was Friday, August 29th. This represents a $0.84 annualized dividend and a yield of 3.5%. Weyerhaeuser’s payout ratio is presently 221.05%.

Insider Transactions at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis bought 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director directly owned 21,478 shares in the company, valued at approximately $543,178.62. This represents a 22.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.27% of the stock is currently owned by insiders.

Weyerhaeuser 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.