Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Holdings in Weyerhaeuser (NYSE:WY)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in Weyerhaeuser (NYSE:WY) by 8.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 21,534 shares of the real estate investment trust’s stock after selling 1,980 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Weyerhaeuser were worth $729,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Weyerhaeuser by 5.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,261,654 shares of the real estate investment trust’s stock valued at $1,840,807,000 after buying an additional 2,874,101 shares in the last quarter. Legal & General Group Plc grew its holdings in Weyerhaeuser by 4.6% in the second quarter. Legal & General Group Plc now owns 11,428,336 shares of the real estate investment trust’s stock worth $324,450,000 after purchasing an additional 503,059 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Weyerhaeuser by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,603,246 shares of the real estate investment trust’s stock worth $291,306,000 after purchasing an additional 2,004,073 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Weyerhaeuser by 32.3% during the second quarter. Principal Financial Group Inc. now owns 3,296,393 shares of the real estate investment trust’s stock worth $93,584,000 after purchasing an additional 804,650 shares in the last quarter. Finally, abrdn plc lifted its holdings in shares of Weyerhaeuser by 4.1% during the 3rd quarter. abrdn plc now owns 3,256,780 shares of the real estate investment trust’s stock valued at $110,161,000 after purchasing an additional 128,055 shares during the last quarter. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

WY has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $38.00 price objective on shares of Weyerhaeuser in a research report on Tuesday, July 30th. Royal Bank of Canada boosted their target price on shares of Weyerhaeuser from $34.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Truist Financial increased their price target on Weyerhaeuser from $31.00 to $34.00 and gave the stock a “hold” rating in a research report on Tuesday, October 15th. Citigroup decreased their target price on Weyerhaeuser from $37.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, July 30th. Finally, Argus raised shares of Weyerhaeuser to a “hold” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $36.33.

Insider Activity at Weyerhaeuser

In other news, Director Albert Monaco bought 31,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were purchased at an average price of $31.38 per share, with a total value of $988,470.00. Following the purchase, the director now owns 70,726 shares in the company, valued at approximately $2,219,381.88. The trade was a 80.30 % 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, Director James Calvin O’rourke bought 7,800 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were purchased at an average price of $32.01 per share, with a total value of $249,678.00. Following the completion of the acquisition, the director now directly owns 17,672 shares in the company, valued at $565,680.72. This trade represents a 79.01 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.30% of the stock is owned by insiders.

Weyerhaeuser Price Performance

Shares of WY stock opened at $31.02 on Tuesday. The firm’s 50-day moving average is $32.32 and its two-hundred day moving average is $30.79. Weyerhaeuser has a 12 month low of $26.73 and a 12 month high of $36.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.01 and a quick ratio of 1.41. The company has a market capitalization of $22.54 billion, a PE ratio of 41.92 and a beta of 1.40.

Weyerhaeuser (NYSE:WY) last released its quarterly earnings data on Thursday, October 24th. The real estate investment trust reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $1.68 billion for the quarter, compared to analysts’ expectations of $1.70 billion. Weyerhaeuser had a return on equity of 4.21% and a net margin of 7.43%. The firm’s quarterly revenue was down 13.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. Analysts predict that Weyerhaeuser will post 0.46 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Friday, November 29th. Weyerhaeuser’s payout ratio is 108.11%.

About Weyerhaeuser

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.