Gofen & Glossberg LLC IL Has $2.24 Million Position in Weyerhaeuser Company (WY)
Gofen & Glossberg LLC IL lessened its position in shares of Weyerhaeuser Company (NYSE:WY) by 5.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 65,892 shares of the real estate investment trust’s stock after selling 3,816 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Weyerhaeuser were worth $2,242,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Capital World Investors lifted its stake in shares of Weyerhaeuser by 67.0% in the second quarter. Capital World Investors now owns 17,695,470 shares of the real estate investment trust’s stock worth $592,798,000 after buying an additional 7,096,454 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Weyerhaeuser by 3.2% in the second quarter. Vanguard Group Inc. now owns 49,408,860 shares of the real estate investment trust’s stock worth $1,655,198,000 after buying an additional 1,535,736 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Weyerhaeuser by 110.0% in the third quarter. Principal Financial Group Inc. now owns 2,818,177 shares of the real estate investment trust’s stock worth $95,903,000 after buying an additional 1,476,159 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Weyerhaeuser by 1,559.9% in the second quarter. Janus Henderson Group PLC now owns 1,479,067 shares of the real estate investment trust’s stock worth $49,550,000 after buying an additional 1,389,961 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Weyerhaeuser by 8.6% in the second quarter. American Century Companies Inc. now owns 16,124,028 shares of the real estate investment trust’s stock worth $540,155,000 after buying an additional 1,273,679 shares in the last quarter. Institutional investors own 74.80% of the company’s stock.
A number of brokerages have commented on WY. BMO Capital Markets downgraded shares of Weyerhaeuser from an “outperform” rating to a “market perform” rating in a research note on Tuesday, August 22nd. TheStreet downgraded shares of Weyerhaeuser from a “b-” rating to a “c+” rating in a research note on Friday, August 18th. BidaskClub downgraded shares of Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Stephens began coverage on shares of Weyerhaeuser in a research note on Tuesday, October 24th. They set an “equal weight” rating and a $35.00 target price on the stock. Finally, Argus lifted their target price on shares of Weyerhaeuser from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $37.20.
Shares of Weyerhaeuser Company (NYSE:WY) traded down $0.11 during mid-day trading on Friday, hitting $35.65. 2,273,100 shares of the company were exchanged, compared to its average volume of 3,300,582. The company has a quick ratio of 1.15, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $26,992.70, a PE ratio of 36.49, a P/E/G ratio of 6.09 and a beta of 1.45. Weyerhaeuser Company has a 52-week low of $29.81 and a 52-week high of $36.92.
Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Weyerhaeuser had a net margin of 12.37% and a return on equity of 8.15%. The business’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. equities analysts forecast that Weyerhaeuser Company will post 1.17 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, November 30th. This is a boost from Weyerhaeuser’s previous quarterly dividend of $0.31. Weyerhaeuser’s payout ratio is 112.28%.
In other Weyerhaeuser news, insider Rhonda D. Hunter sold 23,343 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $36.12, for a total transaction of $843,149.16. Following the completion of the transaction, the insider now owns 98,973 shares in the company, valued at approximately $3,574,904.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rick R. Holley sold 227,341 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $35.05, for a total transaction of $7,968,302.05. The disclosure for this sale can be found here. Insiders have sold a total of 296,623 shares of company stock valued at $10,452,392 in the last quarter. 1.20% of the stock is currently owned by company insiders.
Weyerhaeuser Company Profile
Weyerhaeuser Company is a timber, land and forest products company. As of December 31, 2016, the Company owned or controlled 13.1 million acres of timberlands, primarily in the United States, and manages additional timberlands under long-term licenses in Canada. The Company’s segments include Timberlands; Real Estate, Energy and Natural Resources (Real Estate & ENR), and Wood Products.
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