Retirement Systems of Alabama Sells 16,375 Shares of Weyerhaeuser Co. (WY)
Retirement Systems of Alabama decreased its position in shares of Weyerhaeuser Co. (NYSE:WY) by 4.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 380,865 shares of the real estate investment trust’s stock after selling 16,375 shares during the period. Retirement Systems of Alabama owned about 0.05% of Weyerhaeuser worth $11,338,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in WY. First Manhattan Co. bought a new position in shares of Weyerhaeuser during the first quarter worth about $289,000. Glenmede Trust Co. NA boosted its position in Weyerhaeuser by 591.3% in the first quarter. Glenmede Trust Co. NA now owns 14,448 shares of the real estate investment trust’s stock worth $446,000 after buying an additional 12,358 shares in the last quarter. Virginia Retirement System acquired a new position in Weyerhaeuser during the first quarter worth approximately $2,379,000. CIBC World Markets Inc. acquired a new position in Weyerhaeuser during the first quarter worth approximately $206,000. Finally, Ngam Advisors L.P. boosted its position in Weyerhaeuser by 24.7% in the first quarter. Ngam Advisors L.P. now owns 98,098 shares of the real estate investment trust’s stock worth $3,039,000 after buying an additional 19,405 shares in the last quarter. Institutional investors own 75.73% of the company’s stock.
Weyerhaeuser Co. (NYSE:WY) traded down 2.42% during mid-day trading on Tuesday, reaching $31.03. The company had a trading volume of 3,604,038 shares. Weyerhaeuser Co. has a 52 week low of $22.06 and a 52 week high of $33.17. The stock has a 50 day moving average of $31.30 and a 200 day moving average of $31.16. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 39.99 and a beta of 1.39.
Weyerhaeuser (NYSE:WY) last posted its quarterly earnings data on Friday, August 5th. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by $0.01. The firm earned $1.41 billion during the quarter, compared to analysts’ expectations of $7.54 billion. Weyerhaeuser had a net margin of 7.24% and a return on equity of 8.35%. Weyerhaeuser’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.26 EPS. Analysts anticipate that Weyerhaeuser Co. will post $1.03 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 9th were given a dividend of $0.31 per share. The ex-dividend date was Wednesday, September 7th. This represents a $1.24 annualized dividend and a dividend yield of 4.00%. Weyerhaeuser’s dividend payout ratio is currently 158.98%.
A number of research analysts recently commented on WY shares. Zacks Investment Research raised Weyerhaeuser from a “strong sell” rating to a “hold” rating in a report on Monday, June 6th. Argus reissued a “buy” rating on shares of Weyerhaeuser in a report on Sunday, June 12th. DA Davidson raised Weyerhaeuser from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Wednesday, June 29th. They noted that the move was a valuation call. Citigroup Inc. boosted their price target on Weyerhaeuser from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, August 8th. Finally, Dundee Securities cut Weyerhaeuser from a “buy” rating to a “neutral” rating in a report on Friday, August 12th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $35.38.
In other news, VP Rhonda D. Hunter sold 3,318 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $33.00, for a total transaction of $109,494.00. Following the completion of the transaction, the vice president now directly owns 61,768 shares of the company’s stock, valued at approximately $2,038,344. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jeanne M. Hillman sold 59,686 shares of the company’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $32.58, for a total value of $1,944,569.88. Following the transaction, the vice president now directly owns 70,651 shares of the company’s stock, valued at $2,301,809.58. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
Weyerhaeuser Company is a real estate investment trust (REIT). The Company is an owner of timberlands. It is principally engaged in growing and harvesting timber, as well as manufacturing, distributing and selling products made from trees. Its segments include Timberlands, Wood Products and Cellulose Fibers.
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