Spire Wealth Management Reduces Holdings in Weyerhaeuser (NYSE:WY)

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Spire Wealth Management trimmed its holdings in shares of Weyerhaeuser (NYSE:WYGet Rating) by 13.7% in the first quarter, HoldingsChannel reports. The firm owned 9,298 shares of the real estate investment trust’s stock after selling 1,481 shares during the period. Spire Wealth Management’s holdings in Weyerhaeuser were worth $352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Weyerhaeuser by 5.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 607,061 shares of the real estate investment trust’s stock worth $24,999,000 after purchasing an additional 32,456 shares in the last quarter. DNB Asset Management AS boosted its position in Weyerhaeuser by 28.0% during the fourth quarter. DNB Asset Management AS now owns 148,483 shares of the real estate investment trust’s stock worth $6,115,000 after acquiring an additional 32,470 shares during the last quarter. Mirova acquired a new stake in Weyerhaeuser during the fourth quarter worth approximately $229,000. Natixis Advisors L.P. boosted its position in Weyerhaeuser by 47.5% during the fourth quarter. Natixis Advisors L.P. now owns 129,311 shares of the real estate investment trust’s stock worth $5,325,000 after acquiring an additional 41,629 shares during the last quarter. Finally, Glassy Mountain Advisors Inc. acquired a new stake in Weyerhaeuser during the fourth quarter worth approximately $324,000. 82.38% of the stock is owned by institutional investors and hedge funds.

Shares of WY opened at $33.98 on Friday. The firm has a market cap of $25.30 billion, a PE ratio of 9.47 and a beta of 1.48. The company’s fifty day moving average is $37.55 and its two-hundred day moving average is $38.91. Weyerhaeuser has a fifty-two week low of $32.50 and a fifty-two week high of $43.04. The company has a quick ratio of 2.20, a current ratio of 2.82 and a debt-to-equity ratio of 0.49.

Weyerhaeuser (NYSE:WYGet Rating) last posted its 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 business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.99 billion. Weyerhaeuser had a net margin of 24.96% and a return on equity of 27.03%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.91 EPS. As a group, equities research analysts anticipate that Weyerhaeuser will post 3.13 earnings per share for the current year.

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date was Thursday, June 2nd. Weyerhaeuser’s dividend payout ratio is presently 20.06%.

WY has been the topic of a number of analyst reports. BMO Capital Markets lowered shares of Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $42.00 target price on the stock. in a research report on Monday, May 2nd. The Goldman Sachs Group decreased their target price on shares of Weyerhaeuser from $49.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, June 23rd. Truist Financial began coverage on shares of Weyerhaeuser in a report on Wednesday. They issued a “hold” rating and a $37.00 price target on the stock. Finally, StockNews.com lowered shares of Weyerhaeuser from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 4th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.20.

In other Weyerhaeuser news, Director Albert Monaco acquired 3,000 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was acquired at an average price of $38.43 per share, with a total value of $115,290.00. Following the transaction, the director now directly owns 27,246 shares in the company, valued at $1,047,063.78. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.22% of the stock is owned by corporate insiders.

About Weyerhaeuser (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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Institutional Ownership by Quarter for Weyerhaeuser (NYSE:WY)



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