Weyerhaeuser (NYSE:WY) Short Interest Up 27.0% in June
Weyerhaeuser (NYSE:WY – Get Rating) was the target of a large increase in short interest in June. As of June 15th, there was short interest totalling 11,900,000 shares, an increase of 27.0% from the May 31st total of 9,370,000 shares. Based on an average daily volume of 4,550,000 shares, the days-to-cover ratio is currently 2.6 days. Currently, 1.6% of the company’s stock are sold short.
A number of equities analysts have commented on the stock. StockNews.com downgraded shares of Weyerhaeuser from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 4th. BMO Capital Markets downgraded shares of Weyerhaeuser from an “outperform” rating to a “market perform” rating and set a $42.00 price objective for the company. in a research report on Monday, May 2nd. The Goldman Sachs Group cut their target price on shares of Weyerhaeuser from $49.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, June 23rd. Finally, Truist Financial began coverage on Weyerhaeuser in a research note on Wednesday, June 29th. They issued a “hold” rating and a $37.00 target price for the company. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.20.
In related news, Director Albert Monaco purchased 3,000 shares of Weyerhaeuser stock in a transaction dated Tuesday, June 7th. The shares were acquired at an average price of $38.43 per share, with a total value of $115,290.00. Following the completion of the transaction, the director now owns 27,246 shares of the company’s stock, valued at approximately $1,047,063.78. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.22% of the company’s stock.
A number of hedge funds have recently made changes to their positions in WY. Wilbanks Smith & Thomas Asset Management LLC raised its position in shares of Weyerhaeuser by 2.2% during the 1st quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 11,497 shares of the real estate investment trust’s stock worth $473,000 after buying an additional 246 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Weyerhaeuser by 44.1% during the first quarter. Rosenberg Matthew Hamilton now owns 820 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 251 shares during the period. Stonebridge Capital Advisors LLC raised its holdings in Weyerhaeuser by 4.9% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 5,620 shares of the real estate investment trust’s stock worth $231,000 after purchasing an additional 264 shares in the last quarter. North Star Asset Management Inc. raised its holdings in Weyerhaeuser by 1.0% during the fourth quarter. North Star Asset Management Inc. now owns 26,319 shares of the real estate investment trust’s stock worth $1,084,000 after purchasing an additional 270 shares in the last quarter. Finally, Kiley Juergens Wealth Management LLC lifted its position in Weyerhaeuser by 1.7% in the first quarter. Kiley Juergens Wealth Management LLC now owns 16,266 shares of the real estate investment trust’s stock worth $616,000 after purchasing an additional 279 shares during the period. Institutional investors own 82.38% of the company’s stock.
WY stock opened at $33.98 on Monday. The stock has a market cap of $25.30 billion, a PE ratio of 9.47 and a beta of 1.50. The firm’s 50-day simple moving average is $37.55 and its 200 day simple moving average is $38.90. 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:WY – Get Rating) last posted its earnings results on Friday, April 29th. The real estate investment trust reported $1.31 EPS for the quarter, topping the consensus estimate of $1.07 by $0.24. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Weyerhaeuser had a net margin of 24.96% and a return on equity of 27.03%. Weyerhaeuser’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.91 EPS. Equities analysts forecast that Weyerhaeuser will post 3.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Shareholders of record on Friday, June 3rd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.12%. The ex-dividend date was Thursday, June 2nd. Weyerhaeuser’s payout ratio is currently 20.06%.
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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