Assenagon Asset Management S.A. Sells 5,628 Shares of Weyerhaeuser (NYSE:WY)
Assenagon Asset Management S.A. lessened its stake in Weyerhaeuser (NYSE:WY – Get Rating) by 10.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,046 shares of the real estate investment trust’s stock after selling 5,628 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Weyerhaeuser were worth $1,859,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the stock. Louisiana State Employees Retirement System lifted its holdings in Weyerhaeuser by 0.6% during the first quarter. Louisiana State Employees Retirement System now owns 47,200 shares of the real estate investment trust’s stock worth $1,989,000 after acquiring an additional 300 shares during the period. Exane Derivatives bought a new stake in Weyerhaeuser during the first quarter worth $253,000. Everett Harris & Co. CA lifted its holdings in Weyerhaeuser by 4.7% during the first quarter. Everett Harris & Co. CA now owns 38,767 shares of the real estate investment trust’s stock worth $1,469,000 after acquiring an additional 1,744 shares during the period. Strs Ohio lifted its holdings in Weyerhaeuser by 30.6% during the first quarter. Strs Ohio now owns 46,954 shares of the real estate investment trust’s stock worth $1,779,000 after acquiring an additional 11,012 shares during the period. Finally, Artemis Investment Management LLP lifted its holdings in Weyerhaeuser by 52.4% during the first quarter. Artemis Investment Management LLP now owns 1,128,724 shares of the real estate investment trust’s stock worth $42,683,000 after acquiring an additional 388,233 shares during the period. Institutional investors and hedge funds own 82.38% of the company’s stock.
In other Weyerhaeuser news, Director Albert Monaco bought 3,000 shares of Weyerhaeuser stock in a transaction that occurred on Tuesday, June 7th. The stock was acquired at an average cost of $38.43 per share, for a total transaction of $115,290.00. Following the completion of the transaction, the director now directly owns 27,246 shares in the company, valued at $1,047,063.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.22% of the stock is owned by insiders.
Shares of NYSE WY opened at $34.36 on Friday. The stock has a market cap of $25.58 billion, a PE ratio of 9.57 and a beta of 1.50. Weyerhaeuser has a fifty-two week low of $32.50 and a fifty-two week high of $43.04. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.20 and a current ratio of 2.82. The stock has a fifty day moving average of $36.34 and a 200-day moving average of $38.63.
Weyerhaeuser (NYSE:WY – Get Rating) last announced its quarterly earnings results on Friday, April 29th. The real estate investment trust reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.24. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Weyerhaeuser had a return on equity of 27.03% and a net margin of 24.96%. The firm’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.91 earnings per share. On average, sell-side analysts predict that Weyerhaeuser will post 3.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Friday, June 3rd were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Thursday, June 2nd. Weyerhaeuser’s payout ratio is 20.06%.
A number of analysts recently commented on the company. StockNews.com lowered Weyerhaeuser from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 4th. Truist Financial started coverage on Weyerhaeuser in a research note on Wednesday, June 29th. They issued a “hold” rating and a $37.00 target price on the stock. BMO Capital Markets lowered Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a research note on Monday, May 2nd. Finally, The Goldman Sachs Group lowered their target price on Weyerhaeuser from $49.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, June 23rd. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $42.20.
Weyerhaeuser Profile (Get Rating)
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.
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