SFE Investment Counsel decreased its holdings in shares of Weyerhaeuser (NYSE:WY) by 5.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 190,157 shares of the real estate investment trust’s stock after selling 10,774 shares during the period. Weyerhaeuser makes up 1.8% of SFE Investment Counsel’s portfolio, making the stock its 18th biggest holding. SFE Investment Counsel’s holdings in Weyerhaeuser were worth $6,545,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of WY. Patten Group Inc. grew its position in Weyerhaeuser by 0.5% during the 2nd quarter. Patten Group Inc. now owns 60,004 shares of the real estate investment trust’s stock worth $2,065,000 after purchasing an additional 320 shares in the last quarter. Bessemer Group Inc. grew its position in Weyerhaeuser by 2.7% during the 2nd quarter. Bessemer Group Inc. now owns 12,414 shares of the real estate investment trust’s stock worth $428,000 after purchasing an additional 327 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Weyerhaeuser by 1.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,967 shares of the real estate investment trust’s stock worth $1,031,000 after purchasing an additional 330 shares in the last quarter. Budros Ruhlin & Roe Inc. grew its position in Weyerhaeuser by 0.8% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 42,187 shares of the real estate investment trust’s stock worth $1,452,000 after purchasing an additional 331 shares in the last quarter. Finally, HighPoint Advisor Group LLC grew its position in Weyerhaeuser by 5.8% during the 2nd quarter. HighPoint Advisor Group LLC now owns 6,057 shares of the real estate investment trust’s stock worth $208,000 after purchasing an additional 332 shares in the last quarter. Institutional investors own 81.21% of the company’s stock.
WY has been the topic of several research analyst reports. Raymond James lowered their price objective on shares of Weyerhaeuser from $50.00 to $45.00 and set a “strong-buy” rating on the stock in a research report on Friday, August 27th. Zacks Investment Research cut shares of Weyerhaeuser from a “hold” rating to a “sell” rating and set a $38.00 price objective on the stock. in a research report on Tuesday, August 31st. Bank of America upgraded shares of Weyerhaeuser from a “neutral” rating to a “buy” rating and set a $41.00 price target on the stock in a report on Tuesday, July 27th. Finally, The Goldman Sachs Group assumed coverage on shares of Weyerhaeuser in a report on Thursday, July 15th. They set a “buy” rating and a $40.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $39.29.
Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Thursday, July 29th. The real estate investment trust reported $1.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.38 by ($0.01). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.09 billion. Weyerhaeuser had a return on equity of 26.56% and a net margin of 23.25%. The company’s revenue for the quarter was up 92.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.11 earnings per share. On average, sell-side analysts predict that Weyerhaeuser will post 3.37 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 17th. Investors of record on Friday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, September 2nd. Weyerhaeuser’s dividend payout ratio is presently 52.71%.
Weyerhaeuser Co engages in the manufacture, distribution and sale of forest products. It operates through the following business segments: Timberlands, Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products. The Timberlands segment manages private commercial forestland worldwide, which engages in growing and harvesting trees for lumber, building, pulp, paper and other wood products.
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