Korea Investment CORP Reduces Stake in Weyerhaeuser Company $WY

Korea Investment CORP lessened its holdings in Weyerhaeuser Company (NYSE:WY) by 11.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 357,832 shares of the real estate investment trust’s stock after selling 45,309 shares during the quarter. Korea Investment CORP’s holdings in Weyerhaeuser were worth $8,871,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Norges Bank acquired a new stake in shares of Weyerhaeuser in the second quarter worth $600,502,000. Munich Reinsurance Co Stock Corp in Munich acquired a new position in Weyerhaeuser during the third quarter valued at $48,986,000. Engineers Gate Manager LP lifted its position in Weyerhaeuser by 1,493.1% during the second quarter. Engineers Gate Manager LP now owns 1,541,909 shares of the real estate investment trust’s stock valued at $39,612,000 after purchasing an additional 1,445,123 shares during the period. Bank of New York Mellon Corp boosted its holdings in Weyerhaeuser by 10.3% in the third quarter. Bank of New York Mellon Corp now owns 14,950,516 shares of the real estate investment trust’s stock valued at $370,623,000 after purchasing an additional 1,400,050 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in Weyerhaeuser by 11.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 13,306,064 shares of the real estate investment trust’s stock worth $341,833,000 after purchasing an additional 1,374,109 shares during the period. 82.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Weyerhaeuser

In related news, CEO Devin W. Stockfish sold 90,162 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $23.33, for a total transaction of $2,103,479.46. Following the completion of the sale, the chief executive officer directly owned 1,024,861 shares in the company, valued at approximately $23,910,007.13. The trade was a 8.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sara Grootwassink Lewis acquired 4,500 shares of Weyerhaeuser stock in a transaction that occurred on Wednesday, December 17th. The stock was purchased at an average cost of $23.61 per share, with a total value of $106,245.00. Following the completion of the purchase, the director owned 25,978 shares in the company, valued at $613,340.58. The trade was a 20.95% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired 28,500 shares of company stock worth $721,645 over the last three months. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Weyerhaeuser from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. New Street Research set a $28.00 target price on Weyerhaeuser in a report on Friday, December 12th. DA Davidson reiterated a “buy” rating and set a $31.00 price target on shares of Weyerhaeuser in a research report on Monday, February 2nd. Weiss Ratings raised Weyerhaeuser from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, February 10th. Finally, Citigroup upped their price objective on Weyerhaeuser from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, February 13th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.88.

Weyerhaeuser Stock Performance

WY opened at $23.23 on Thursday. The firm’s fifty day simple moving average is $25.64 and its two-hundred day simple moving average is $24.39. Weyerhaeuser Company has a 52-week low of $21.16 and a 52-week high of $30.28. The company has a market cap of $16.74 billion, a price-to-earnings ratio of 52.79 and a beta of 1.03. The company has a quick ratio of 0.83, a current ratio of 1.29 and a debt-to-equity ratio of 0.54.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.58 billion. Weyerhaeuser had a net margin of 4.69% and a return on equity of 1.50%. The company’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share. Equities analysts anticipate that Weyerhaeuser Company will post 0.78 earnings per share for the current fiscal year.

Weyerhaeuser Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date is Tuesday, March 10th. Weyerhaeuser’s payout ratio is 190.91%.

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.