Weyerhaeuser (NYSE:WY) Price Target Raised to $29.00

Weyerhaeuser (NYSE:WY) had its price target lifted by Truist Financial from $28.00 to $29.00 in a report published on Monday morning, MarketBeat reports. Truist Financial currently has a hold rating on the real estate investment trust’s stock.

Several other equities analysts have also issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Weyerhaeuser in a research report on Monday, December 29th. New Street Research set a $28.00 price objective on shares of Weyerhaeuser in a research report on Friday, December 12th. Royal Bank Of Canada dropped their price objective on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating on the stock in a report on Monday, November 3rd. Wall Street Zen raised shares of Weyerhaeuser from a “sell” rating to a “hold” rating in a research note on Saturday, January 31st. Finally, CIBC reiterated an “outperform” rating on shares of Weyerhaeuser in a report on Friday, December 12th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.63.

Weyerhaeuser Price Performance

WY opened at $26.71 on Monday. The stock has a market cap of $19.25 billion, a P/E ratio of 60.71, a P/E/G ratio of 97.80 and a beta of 1.03. Weyerhaeuser has a 12 month low of $21.16 and a 12 month high of $31.66. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $24.39 and a 200 day simple moving average of $24.44.

Weyerhaeuser (NYSE:WY) last posted its earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.58 billion. During the same period in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was down 9.8% on a year-over-year basis. On average, research analysts expect that Weyerhaeuser will post 0.78 EPS for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 28th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $0.84 dividend on an annualized basis and a yield of 3.1%. Weyerhaeuser’s dividend payout ratio (DPR) is 190.91%.

Insider Activity

In other Weyerhaeuser news, CEO Devin W. Stockfish sold 90,162 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $23.33, for a total transaction of $2,103,479.46. Following the sale, the chief executive officer directly owned 1,024,861 shares of the company’s stock, valued at $23,910,007.13. The trade was a 8.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Sara Grootwassink Lewis acquired 4,500 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was bought at an average price of $23.61 per share, with a total value of $106,245.00. Following the acquisition, the director directly owned 25,978 shares in the company, valued at $613,340.58. This represents a 20.95% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.27% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its holdings in shares of Weyerhaeuser by 86.3% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,125 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 521 shares during the last quarter. Tradewinds Capital Management LLC raised its position in Weyerhaeuser by 401.3% during the third quarter. Tradewinds Capital Management LLC now owns 1,198 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 959 shares in the last quarter. Cromwell Holdings LLC lifted its stake in Weyerhaeuser by 58.3% in the third quarter. Cromwell Holdings LLC now owns 1,361 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 501 shares during the last quarter. Private Wealth Asset Management LLC grew its position in shares of Weyerhaeuser by 135.2% in the 2nd quarter. Private Wealth Asset Management LLC now owns 1,404 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 807 shares during the period. Finally, FNY Investment Advisers LLC bought a new position in shares of Weyerhaeuser in the 4th quarter valued at about $39,000. 82.99% of the stock is currently owned by institutional investors.

About Weyerhaeuser

Weyerhaeuser Company (NYSE: WY) is a leading integrated forest products company whose core businesses are timberland ownership and forest products manufacturing. The company owns and manages large tracts of timberland and harvests, processes and sells wood and wood-derived products used primarily in residential and industrial construction. Its manufacturing operations produce a range of building materials, including lumber, engineered wood products and wood panels, alongside fiber-based products that serve multiple commercial applications.

Founded in 1900 by Frederick Weyerhaeuser and headquartered in Seattle, Washington, the company has a long history in the North American forest products industry.