Massachusetts Financial Services Co. MA trimmed its stake in Weyerhaeuser Co (NYSE:WY) by 92.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 109,719 shares of the real estate investment trust’s stock after selling 1,350,780 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Weyerhaeuser were worth $3,541,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. grew its holdings in shares of Weyerhaeuser by 2.4% in the 2nd quarter. BlackRock Inc. now owns 51,753,003 shares of the real estate investment trust’s stock worth $1,886,914,000 after acquiring an additional 1,220,115 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Weyerhaeuser by 1.9% in the 2nd quarter. Northern Trust Corp now owns 11,178,600 shares of the real estate investment trust’s stock worth $407,571,000 after acquiring an additional 207,103 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of Weyerhaeuser by 1.2% in the 2nd quarter. Bank of America Corp DE now owns 7,983,841 shares of the real estate investment trust’s stock worth $291,091,000 after acquiring an additional 97,337 shares during the last quarter. Morgan Stanley grew its holdings in shares of Weyerhaeuser by 10.3% in the 2nd quarter. Morgan Stanley now owns 7,555,419 shares of the real estate investment trust’s stock worth $275,472,000 after acquiring an additional 706,848 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Weyerhaeuser by 8.8% in the 1st quarter. Principal Financial Group Inc. now owns 4,958,363 shares of the real estate investment trust’s stock worth $173,543,000 after acquiring an additional 401,218 shares during the last quarter. Institutional investors and hedge funds own 77.02% of the company’s stock.
A number of equities analysts recently issued reports on the company. Zacks Investment Research cut Weyerhaeuser from a “buy” rating to a “hold” rating in a report on Wednesday, August 8th. DA Davidson reaffirmed a “neutral” rating on shares of Weyerhaeuser in a research report on Friday, July 27th. ValuEngine cut Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. Citigroup decreased their target price on Weyerhaeuser from $42.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 25th. Finally, Vertical Research raised Weyerhaeuser from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. Weyerhaeuser has a consensus rating of “Buy” and a consensus target price of $35.20.
Weyerhaeuser (NYSE:WY) last issued its earnings results on Friday, October 26th. The real estate investment trust reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.11). The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.95 billion. Weyerhaeuser had a return on equity of 11.65% and a net margin of 14.51%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS. As a group, analysts predict that Weyerhaeuser Co will post 1.21 earnings per share for the current fiscal year.
Weyerhaeuser Company Profile
Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control 12.4 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.
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