Granite Investment Partners LLC Cuts Stock Position in Weyerhaeuser Company $WY

Granite Investment Partners LLC trimmed its stake in shares of Weyerhaeuser Company (NYSE:WY) by 31.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,450 shares of the real estate investment trust’s stock after selling 23,117 shares during the period. Granite Investment Partners LLC’s holdings in Weyerhaeuser were worth $1,251,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its holdings in Weyerhaeuser by 86.3% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,125 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 521 shares during the period. Tradewinds Capital Management LLC raised its stake in shares of Weyerhaeuser by 401.3% during the third quarter. Tradewinds Capital Management LLC now owns 1,198 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 959 shares in the last quarter. Cromwell Holdings LLC lifted its holdings in shares of Weyerhaeuser by 58.3% in the 3rd quarter. Cromwell Holdings LLC now owns 1,361 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 501 shares during the period. Operose Advisors LLC bought a new position in Weyerhaeuser during the 2nd quarter worth about $41,000. Finally, CYBER HORNET ETFs LLC bought a new position in shares of Weyerhaeuser during the second quarter valued at approximately $49,000. Institutional investors own 82.99% of the company’s stock.

Analyst Ratings Changes

WY has been the subject of several recent analyst reports. Bank of America reiterated a “neutral” rating and set a $26.00 price objective (down previously from $29.00) on shares of Weyerhaeuser in a research note on Monday, November 17th. Royal Bank Of Canada lowered their price objective on Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Weyerhaeuser in a research note on Friday, December 12th. DA Davidson reiterated a “buy” rating and issued a $31.00 price target on shares of Weyerhaeuser in a research note on Monday, February 2nd. Finally, New Street Research set a $28.00 price target on Weyerhaeuser in a report on Friday, December 12th. Six analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Weyerhaeuser has an average rating of “Hold” and an average price target of $28.88.

Insider Buying and Selling at Weyerhaeuser

In other Weyerhaeuser news, Director Sara Grootwassink Lewis acquired 4,500 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were acquired at an average cost of $23.61 per share, with a total value of $106,245.00. Following the acquisition, the director directly owned 25,978 shares of the company’s stock, valued at approximately $613,340.58. The trade was a 20.95% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Devin W. Stockfish sold 90,162 shares of the stock in a transaction 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 owned 1,024,861 shares in the company, valued at $23,910,007.13. The trade was a 8.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 28,500 shares of company stock worth $721,645 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

Weyerhaeuser Price Performance

NYSE WY opened at $25.10 on Tuesday. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 57.06 and a beta of 1.03. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.29 and a quick ratio of 0.83. The stock’s fifty day moving average price is $25.46 and its 200 day moving average price is $24.51. Weyerhaeuser Company has a 1 year low of $21.16 and a 1 year high of $31.66.

Weyerhaeuser (NYSE:WY) last posted its quarterly earnings results on Thursday, January 29th. The real estate investment trust reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.04. The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.58 billion. Weyerhaeuser had a return on equity of 1.50% and a net margin of 4.69%.The company’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.11 EPS. As a group, equities research analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

Weyerhaeuser Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a $0.21 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $0.84 dividend on an annualized basis and a yield of 3.3%. Weyerhaeuser’s dividend payout ratio is currently 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.