Eastern Bank Has $67,000 Stock Position in Weyerhaeuser Company $WY

Eastern Bank reduced its position in Weyerhaeuser Company (NYSE:WY) by 32.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 2,620 shares of the real estate investment trust’s stock after selling 1,280 shares during the period. Eastern Bank’s holdings in Weyerhaeuser were worth $67,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of WY. GKV Capital Management Co. Inc. acquired a new stake in Weyerhaeuser in the 1st quarter valued at about $29,000. Barnes Dennig Private Wealth Management LLC bought a new position in Weyerhaeuser in the 1st quarter valued at about $31,000. Costello Asset Management INC bought a new position in Weyerhaeuser in the 1st quarter valued at about $32,000. Marshall Investment Management LLC bought a new position in Weyerhaeuser in the 1st quarter valued at about $36,000. Finally, Zions Bancorporation National Association UT bought a new position in Weyerhaeuser in the 1st quarter valued at about $40,000. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Weyerhaeuser in a report on Wednesday, October 8th. CIBC lowered their price target on shares of Weyerhaeuser from $32.00 to $31.00 and set an “outperformer” rating on the stock in a report on Thursday, September 11th. Wall Street Zen cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Sunday, August 3rd. Truist Financial lowered their target price on shares of Weyerhaeuser from $30.00 to $29.00 and set a “hold” rating on the stock in a report on Monday, July 28th. Finally, DA Davidson reaffirmed a “buy” rating and set a $35.00 target price on shares of Weyerhaeuser in a report on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.88.

Weyerhaeuser Stock Down 2.0%

Shares of WY opened at $23.95 on Monday. Weyerhaeuser Company has a 12 month low of $23.92 and a 12 month high of $33.56. The firm’s 50 day moving average is $25.30 and its 200-day moving average is $25.84. The stock has a market capitalization of $17.28 billion, a PE ratio of 63.03, a P/E/G ratio of 210.53 and a beta of 1.05. The company has a current ratio of 1.04, a quick ratio of 0.68 and a debt-to-equity ratio of 0.45.

Weyerhaeuser (NYSE:WY) last announced its earnings results on Thursday, July 24th. The real estate investment trust reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.94 billion. During the same period last year, the firm earned $0.21 earnings per share. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. Equities research analysts forecast that Weyerhaeuser Company will post 0.78 EPS for the current year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Investors of record on Friday, August 29th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, August 29th. Weyerhaeuser’s dividend payout ratio (DPR) is 221.05%.

Insider Transactions at Weyerhaeuser

In other news, Director Sara Grootwassink Lewis acquired 4,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The shares were acquired at an average cost of $25.29 per share, with a total value of $101,160.00. Following the completion of the purchase, the director directly owned 21,478 shares of the company’s stock, valued at $543,178.62. The trade was a 22.89% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.27% of the stock is owned by company insiders.

Weyerhaeuser Company Profile

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.