Sumitomo Mitsui Trust Group Inc. Sells 132,034 Shares of Weyerhaeuser Company $WY

Sumitomo Mitsui Trust Group Inc. decreased its position in shares of Weyerhaeuser Company (NYSE:WY) by 8.1% in the 4th quarter, HoldingsChannel reports. The firm owned 1,491,620 shares of the real estate investment trust’s stock after selling 132,034 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Weyerhaeuser were worth $35,336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of WY. Goldman Sachs Group Inc. lifted its position in Weyerhaeuser by 18.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,249,932 shares of the real estate investment trust’s stock worth $65,878,000 after purchasing an additional 346,571 shares during the period. Empowered Funds LLC lifted its position in Weyerhaeuser by 3.4% during the first quarter. Empowered Funds LLC now owns 46,049 shares of the real estate investment trust’s stock worth $1,348,000 after purchasing an additional 1,498 shares during the period. Intech Investment Management LLC lifted its position in Weyerhaeuser by 5.9% during the first quarter. Intech Investment Management LLC now owns 56,265 shares of the real estate investment trust’s stock worth $1,647,000 after purchasing an additional 3,124 shares during the period. Gamco Investors INC. ET AL bought a new stake in Weyerhaeuser during the second quarter worth about $275,000. Finally, Bank of Nova Scotia lifted its position in Weyerhaeuser by 10.2% during the second quarter. Bank of Nova Scotia now owns 91,624 shares of the real estate investment trust’s stock worth $2,354,000 after purchasing an additional 8,500 shares during the period. Institutional investors own 82.99% of the company’s stock.

Wall Street Analyst Weigh In

WY has been the subject of several research analyst reports. Citigroup boosted their target price on Weyerhaeuser from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, February 13th. Truist Financial lowered their target price on Weyerhaeuser from $29.00 to $28.00 and set a “hold” rating for the company in a research note on Wednesday. Wall Street Zen cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. DA Davidson reaffirmed a “buy” rating and set a $31.00 target price on shares of Weyerhaeuser in a research note on Tuesday, March 31st. Finally, Weiss Ratings raised shares of Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, February 10th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Weyerhaeuser has a consensus rating of “Hold” and an average price target of $28.75.

Insider Buying and Selling

In other Weyerhaeuser news, Director James Calvin O’rourke purchased 4,000 shares of the business’s stock in a transaction on Friday, February 20th. The shares were purchased at an average cost of $25.35 per share, for a total transaction of $101,400.00. Following the acquisition, the director owned 28,661 shares of the company’s stock, valued at approximately $726,556.35. This represents a 16.22% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Beckwitt purchased 20,000 shares of the business’s stock in a transaction on Thursday, February 19th. The shares were acquired at an average price of $25.70 per share, for a total transaction of $514,000.00. Following the completion of the acquisition, the director directly owned 24,066 shares in the company, valued at approximately $618,496.20. This represents a 491.88% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.31% of the stock is currently owned by corporate insiders.

Weyerhaeuser Stock Performance

NYSE:WY opened at $24.37 on Friday. The company has a market capitalization of $17.57 billion, a PE ratio of 55.38, a P/E/G ratio of 2.65 and a beta of 0.98. The company has a 50 day simple moving average of $24.68 and a two-hundred day simple moving average of $24.18. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.83 and a current ratio of 1.29. Weyerhaeuser Company has a fifty-two week low of $21.16 and a fifty-two week high of $27.86.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $1.54 billion during the quarter, compared to the consensus estimate of $1.58 billion. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The company’s revenue for the quarter was down 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.11 EPS. Research analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date was Tuesday, March 10th. Weyerhaeuser’s dividend payout ratio is presently 190.91%.

Weyerhaeuser 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.