Daiwa Securities Group Inc. Sells 1,589,555 Shares of Weyerhaeuser Company $WY

Daiwa Securities Group Inc. cut its position in Weyerhaeuser Company (NYSE:WY) by 64.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 895,416 shares of the real estate investment trust’s stock after selling 1,589,555 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Weyerhaeuser were worth $21,436,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WY. Pekin Hardy Strauss Inc. grew its holdings in shares of Weyerhaeuser by 7.1% during the second quarter. Pekin Hardy Strauss Inc. now owns 358,651 shares of the real estate investment trust’s stock valued at $8,586,000 after buying an additional 23,815 shares during the last quarter. Chicago Partners Investment Group LLC bought a new stake in shares of Weyerhaeuser during the second quarter valued at approximately $309,000. Ethic Inc. raised its holdings in Weyerhaeuser by 19.7% in the 2nd quarter. Ethic Inc. now owns 63,240 shares of the real estate investment trust’s stock worth $1,514,000 after acquiring an additional 10,418 shares during the last quarter. Swiss Life Asset Management Ltd raised its holdings in Weyerhaeuser by 22.5% in the 2nd quarter. Swiss Life Asset Management Ltd now owns 231,651 shares of the real estate investment trust’s stock worth $5,546,000 after acquiring an additional 42,549 shares during the last quarter. Finally, Meramec Financial Planners LLC lifted its position in Weyerhaeuser by 55,020.0% in the 2nd quarter. Meramec Financial Planners LLC now owns 2,756 shares of the real estate investment trust’s stock valued at $66,000 after acquiring an additional 2,751 shares in the last quarter. Institutional investors own 82.99% of the company’s stock.

Weyerhaeuser Trading Down 1.1%

Shares of WY stock opened at $24.55 on Friday. Weyerhaeuser Company has a 12-month low of $21.16 and a 12-month high of $27.75. The company has a current ratio of 1.82, a quick ratio of 1.15 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $24.35 and its 200 day moving average is $24.53. The stock has a market capitalization of $17.70 billion, a P/E ratio of 37.78, a P/E/G ratio of 1.33 and a beta of 0.89.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, July 30th. The real estate investment trust reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. Weyerhaeuser had a net margin of 6.89% and a return on equity of 1.49%. The company’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.12 EPS. Research analysts expect that Weyerhaeuser Company will post 0.32 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.84 annualized dividend and a dividend yield of 3.4%. Weyerhaeuser’s payout ratio is presently 129.23%.

Wall Street Analysts Forecast Growth

Several analysts have commented on WY shares. Canadian Imperial Bank of Commerce set a $28.00 target price on Weyerhaeuser in a research note on Thursday, April 23rd. Citigroup decreased their price target on Weyerhaeuser from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, August 4th. Raymond James Financial raised Weyerhaeuser from an “outperform” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a report on Friday, July 10th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $30.00 price objective on shares of Weyerhaeuser in a research report on Friday, July 17th. Finally, DA Davidson reiterated a “buy” rating and issued a $31.00 price objective on shares of Weyerhaeuser in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.00.

About Weyerhaeuser

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.