Weyerhaeuser (NYSE:WY) Issues Earnings Results

Weyerhaeuser (NYSE:WY) released its earnings results on Thursday. The real estate investment trust reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04, FiscalAI reports. The firm had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.58 billion. Weyerhaeuser had a net margin of 4.68% and a return on equity of 3.04%.

Weyerhaeuser Price Performance

NYSE:WY traded down $0.17 during mid-day trading on Thursday, reaching $25.89. The stock had a trading volume of 7,727,975 shares, compared to its average volume of 8,085,780. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.78 and a current ratio of 1.23. The stock has a market capitalization of $18.66 billion, a P/E ratio of 57.52, a P/E/G ratio of 97.42 and a beta of 1.04. The firm has a 50 day moving average price of $23.96 and a two-hundred day moving average price of $24.42. Weyerhaeuser has a one year low of $21.16 and a one year high of $31.66.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, November 28th. Weyerhaeuser’s dividend payout ratio (DPR) is currently 186.67%.

Analyst Ratings Changes

Several brokerages have weighed in on WY. DA Davidson reduced their price objective on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Citigroup boosted their price objective on Weyerhaeuser from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, January 14th. UBS Group reiterated a “buy” rating on shares of Weyerhaeuser in a research report on Monday, December 15th. Truist Financial boosted their price target on shares of Weyerhaeuser from $27.00 to $28.00 and gave the company a “hold” rating in a research report on Tuesday, January 6th. Finally, CIBC restated an “outperform” rating on shares of Weyerhaeuser in a research note on Friday, December 12th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Weyerhaeuser currently has an average rating of “Hold” and an average price target of $28.50.

Insider Buying and Selling at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis purchased 4,500 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were acquired at an average price of $23.61 per share, with a total value of $106,245.00. Following the acquisition, the director directly owned 25,978 shares in the company, valued at approximately $613,340.58. The trade was a 20.95% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Devin W. Stockfish sold 90,162 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $23.33, for a total value of $2,103,479.46. Following the transaction, the chief executive officer directly owned 1,024,861 shares in the company, valued at $23,910,007.13. This trade represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Weyerhaeuser

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WY. Wellington Management Group LLP grew its position in Weyerhaeuser by 6.3% in the 3rd quarter. Wellington Management Group LLP now owns 39,646,897 shares of the real estate investment trust’s stock worth $982,847,000 after purchasing an additional 2,343,724 shares during the period. State Street Corp raised its stake in Weyerhaeuser by 1.9% during the 3rd quarter. State Street Corp now owns 32,468,597 shares of the real estate investment trust’s stock worth $804,897,000 after acquiring an additional 602,901 shares during the period. Invesco Ltd. raised its position in shares of Weyerhaeuser by 14.2% during the 3rd quarter. Invesco Ltd. now owns 11,007,440 shares of the real estate investment trust’s stock valued at $272,874,000 after purchasing an additional 1,367,616 shares during the period. Freestone Grove Partners LP raised its holdings in Weyerhaeuser by 124.5% during the third quarter. Freestone Grove Partners LP now owns 6,697,465 shares of the real estate investment trust’s stock valued at $166,030,000 after acquiring an additional 3,713,932 shares during the period. Finally, Bank of America Corp DE raised its stake in Weyerhaeuser by 10.2% during the 2nd quarter. Bank of America Corp DE now owns 6,443,057 shares of the real estate investment trust’s stock valued at $165,522,000 after purchasing an additional 596,727 shares during the period. 82.99% of the stock is owned by institutional investors.

Weyerhaeuser Company Profile

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.