Bank of Montreal Can Sells 74,497 Shares of Weyerhaeuser Company $WY

Bank of Montreal Can lessened its holdings in Weyerhaeuser Company (NYSE:WY) by 10.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 638,174 shares of the real estate investment trust’s stock after selling 74,497 shares during the quarter. Bank of Montreal Can’s holdings in Weyerhaeuser were worth $16,395,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WY. Tredje AP fonden raised its holdings in shares of Weyerhaeuser by 21.5% in the 2nd quarter. Tredje AP fonden now owns 69,970 shares of the real estate investment trust’s stock valued at $1,798,000 after acquiring an additional 12,390 shares in the last quarter. Cambiar Investors LLC purchased a new position in shares of Weyerhaeuser during the second quarter worth about $32,721,000. GHP Investment Advisors Inc. increased its position in shares of Weyerhaeuser by 375.5% in the second quarter. GHP Investment Advisors Inc. now owns 2,097 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,656 shares during the last quarter. Arbor Capital Management Inc. ADV bought a new position in shares of Weyerhaeuser in the second quarter worth approximately $637,000. Finally, Atria Investments Inc raised its stake in Weyerhaeuser by 57.5% in the second quarter. Atria Investments Inc now owns 19,668 shares of the real estate investment trust’s stock valued at $505,000 after purchasing an additional 7,184 shares in the last quarter. 82.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WY has been the subject of a number of research reports. Royal Bank Of Canada cut their price target on shares of Weyerhaeuser from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Monday. Truist Financial dropped their price objective on shares of Weyerhaeuser from $29.00 to $27.00 and set a “hold” rating for the company in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Weyerhaeuser in a research report on Wednesday, October 8th. DA Davidson reduced their target price on Weyerhaeuser from $35.00 to $31.00 and set a “buy” rating on the stock in a research note on Monday. Finally, CIBC lowered their price target on Weyerhaeuser from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.00.

Insider Activity

In related news, Director Sara Grootwassink Lewis acquired 4,000 shares of the firm’s stock in a transaction dated Monday, August 11th. The shares were purchased at an average price of $25.29 per share, for a total transaction of $101,160.00. Following the completion of the acquisition, the director owned 21,478 shares in the company, valued at approximately $543,178.62. This represents a 22.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.27% of the company’s stock.

Weyerhaeuser Trading Up 1.2%

Shares of WY opened at $23.10 on Friday. Weyerhaeuser Company has a fifty-two week low of $22.28 and a fifty-two week high of $32.70. The firm has a market cap of $16.65 billion, a price-to-earnings ratio of 60.78, a PEG ratio of 244.04 and a beta of 1.04. The firm has a 50 day moving average price of $24.29 and a 200-day moving average price of $25.41. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.68 and a current ratio of 1.04.

Weyerhaeuser (NYSE:WY) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.13. The company had revenue of $1.72 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Weyerhaeuser had a net margin of 3.97% and a return on equity of 2.95%. The firm’s revenue was up 12.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. As a group, equities research analysts forecast that Weyerhaeuser Company will post 0.78 earnings per share for the current year.

About Weyerhaeuser

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.