Russell Investments Group Ltd. Increases Stake in Weyerhaeuser Company (WY)
Russell Investments Group Ltd. lifted its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 17.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 108,306 shares of the real estate investment trust’s stock after acquiring an additional 15,882 shares during the period. Russell Investments Group Ltd.’s holdings in Weyerhaeuser were worth $3,686,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in WY. Dimensional Fund Advisors LP lifted its holdings in shares of Weyerhaeuser by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 311,332 shares of the real estate investment trust’s stock worth $10,578,000 after purchasing an additional 8,370 shares during the period. Hartford Financial Management Inc. lifted its holdings in shares of Weyerhaeuser by 2.9% during the second quarter. Hartford Financial Management Inc. now owns 63,522 shares of the real estate investment trust’s stock worth $2,127,000 after purchasing an additional 1,802 shares during the period. Sei Investments Co. lifted its holdings in shares of Weyerhaeuser by 12.8% during the second quarter. Sei Investments Co. now owns 799,308 shares of the real estate investment trust’s stock worth $26,777,000 after purchasing an additional 90,731 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Weyerhaeuser by 2.2% during the second quarter. Stratos Wealth Partners LTD. now owns 14,476 shares of the real estate investment trust’s stock worth $485,000 after purchasing an additional 318 shares during the period. Finally, Candriam Luxembourg S.C.A. lifted its holdings in shares of Weyerhaeuser by 3.3% during the second quarter. Candriam Luxembourg S.C.A. now owns 51,570 shares of the real estate investment trust’s stock worth $1,728,000 after purchasing an additional 1,641 shares during the period. Institutional investors and hedge funds own 74.80% of the company’s stock.
WY has been the subject of several recent research reports. BidaskClub downgraded Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Friday, August 18th. TheStreet downgraded Weyerhaeuser from a “b-” rating to a “c+” rating in a report on Friday, August 18th. BMO Capital Markets downgraded Weyerhaeuser from an “outperform” rating to a “market perform” rating in a report on Tuesday, August 22nd. Royal Bank of Canada reissued a “buy” rating and issued a $40.00 target price on shares of Weyerhaeuser in a report on Monday, September 4th. Finally, Stephens initiated coverage on Weyerhaeuser in a report on Tuesday, October 24th. They issued an “equal weight” rating and a $35.00 target price for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Weyerhaeuser currently has a consensus rating of “Hold” and an average target price of $37.20.
Weyerhaeuser (NYSE:WY) last released its quarterly earnings results on Friday, October 27th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The business had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Weyerhaeuser had a return on equity of 8.15% and a net margin of 12.37%. The business’s revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 EPS. equities analysts anticipate that Weyerhaeuser Company will post 1.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend was Thursday, November 30th. This is an increase from Weyerhaeuser’s previous quarterly dividend of $0.31. Weyerhaeuser’s payout ratio is 112.28%.
In other news, Director Rick R. Holley sold 227,341 shares of Weyerhaeuser stock in a transaction on Monday, October 16th. The stock was sold at an average price of $35.05, for a total transaction of $7,968,302.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Rhonda D. Hunter sold 23,343 shares of Weyerhaeuser stock in a transaction on Friday, November 24th. The stock was sold at an average price of $36.12, for a total value of $843,149.16. Following the transaction, the insider now directly owns 98,973 shares of the company’s stock, valued at approximately $3,574,904.76. The disclosure for this sale can be found here. Insiders have sold a total of 296,623 shares of company stock valued at $10,452,392 in the last ninety days. Corporate insiders own 1.20% of the company’s stock.
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Weyerhaeuser Company Profile
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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