Renaissance Technologies LLC Sells 248,400 Shares of Weyerhaeuser Company $WY

Renaissance Technologies LLC reduced its holdings in shares of Weyerhaeuser Company (NYSE:WY) by 15.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,310,981 shares of the real estate investment trust’s stock after selling 248,400 shares during the quarter. Renaissance Technologies LLC owned about 0.18% of Weyerhaeuser worth $32,027,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Gabelli Funds LLC raised its holdings in Weyerhaeuser by 9.3% during the 1st quarter. Gabelli Funds LLC now owns 245,955 shares of the real estate investment trust’s stock valued at $6,009,000 after acquiring an additional 20,955 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Weyerhaeuser by 11.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 6,212,273 shares of the real estate investment trust’s stock worth $151,766,000 after acquiring an additional 639,334 shares during the period. Caxton Associates LLP bought a new position in shares of Weyerhaeuser in the first quarter worth $339,000. Bank of Nova Scotia grew its position in shares of Weyerhaeuser by 15.2% in the first quarter. Bank of Nova Scotia now owns 269,147 shares of the real estate investment trust’s stock valued at $6,575,000 after purchasing an additional 35,487 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Weyerhaeuser by 60.6% in the first quarter. Cetera Investment Advisers now owns 181,913 shares of the real estate investment trust’s stock valued at $4,444,000 after purchasing an additional 68,668 shares in the last quarter. 82.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Truist Financial dropped their price objective on Weyerhaeuser from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Wednesday, July 15th. Weiss Ratings lowered Weyerhaeuser from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. DA Davidson reaffirmed a “buy” rating and set a $31.00 target price on shares of Weyerhaeuser in a report on Tuesday, June 30th. Canadian Imperial Bank of Commerce set a $28.00 price target on Weyerhaeuser in a research report on Thursday, April 23rd. Finally, Citigroup lowered their price target on shares of Weyerhaeuser from $32.00 to $30.00 and set a “buy” rating on the stock in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Weyerhaeuser Stock Up 3.0%

WY opened at $24.62 on Wednesday. The firm has a market capitalization of $17.76 billion, a P/E ratio of 45.60, a price-to-earnings-growth ratio of 1.35 and a beta of 0.89. Weyerhaeuser Company has a one year low of $21.16 and a one year high of $27.75. The company has a fifty day moving average price of $24.11 and a 200-day moving average price of $24.63. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.42 and a quick ratio of 0.80.

Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, April 30th. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.72 billion. Weyerhaeuser had a return on equity of 1.45% and a net margin of 5.78%.The firm’s revenue was down 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 earnings per share. Equities research analysts expect that Weyerhaeuser Company will post 0.3 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Friday, June 5th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, June 5th. Weyerhaeuser’s dividend payout ratio is currently 155.56%.

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.