PNC Financial Services Group Inc. Reduces Stake in Weyerhaeuser (NYSE:WY)

PNC Financial Services Group Inc. cut its position in Weyerhaeuser (NYSE:WY) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 175,193 shares of the real estate investment trust’s stock after selling 4,847 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Weyerhaeuser were worth $6,091,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S boosted its stake in Weyerhaeuser by 27.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 214,520 shares of the real estate investment trust’s stock worth $7,459,000 after purchasing an additional 45,708 shares during the period. Norges Bank bought a new position in shares of Weyerhaeuser in the fourth quarter valued at approximately $753,497,000. ING Groep NV increased its holdings in Weyerhaeuser by 8.9% during the 4th quarter. ING Groep NV now owns 99,939 shares of the real estate investment trust’s stock worth $3,475,000 after acquiring an additional 8,200 shares during the period. Kingsview Wealth Management LLC lifted its stake in Weyerhaeuser by 6.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 7,379 shares of the real estate investment trust’s stock worth $257,000 after purchasing an additional 445 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in Weyerhaeuser by 14.0% in the 4th quarter. Quadrant Capital Group LLC now owns 3,426 shares of the real estate investment trust’s stock valued at $119,000 after purchasing an additional 420 shares during the period. Institutional investors own 82.99% of the company’s stock.

Insider Buying and Selling at Weyerhaeuser

In other Weyerhaeuser news, SVP Keith O’rear sold 8,349 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $36.03, for a total value of $300,814.47. Following the completion of the transaction, the senior vice president now owns 170,665 shares of the company’s stock, valued at approximately $6,149,059.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser Trading Down 1.9 %

WY opened at $30.11 on Friday. The company has a quick ratio of 1.57, a current ratio of 2.24 and a debt-to-equity ratio of 0.48. Weyerhaeuser has a 52 week low of $28.12 and a 52 week high of $36.27. The stock has a market cap of $21.95 billion, a PE ratio of 27.37 and a beta of 1.47. The business has a 50 day moving average of $32.73 and a 200-day moving average of $32.90.

Weyerhaeuser (NYSE:WY) last announced its quarterly earnings data on Thursday, April 25th. The real estate investment trust reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. Weyerhaeuser had a net margin of 10.57% and a return on equity of 7.00%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the company earned $0.21 earnings per share. The business’s revenue was down 4.5% compared to the same quarter last year. Equities research analysts predict that Weyerhaeuser will post 1 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, June 14th. Investors of record on Friday, May 31st will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $0.80 dividend on an annualized basis and a yield of 2.66%. Weyerhaeuser’s payout ratio is currently 72.73%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Royal Bank of Canada cut their price objective on Weyerhaeuser from $38.00 to $37.00 and set an “outperform” rating for the company in a report on Monday, April 29th. BMO Capital Markets lifted their price target on Weyerhaeuser from $36.00 to $38.00 and gave the stock a “market perform” rating in a research note on Friday, March 22nd. CIBC set a $37.00 price objective on Weyerhaeuser and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Truist Financial reissued a “hold” rating and set a $36.00 price objective on shares of Weyerhaeuser in a report on Wednesday, April 3rd. Finally, StockNews.com lowered Weyerhaeuser from a “buy” rating to a “hold” rating in a research note on Monday, January 29th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.67.

Weyerhaeuser Company Profile

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 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.