Gateway Investment Advisers LLC Cuts Stake in Weyerhaeuser Co (WY)
Gateway Investment Advisers LLC lessened its stake in shares of Weyerhaeuser Co (NYSE:WY) by 2.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 123,464 shares of the real estate investment trust’s stock after selling 3,675 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Weyerhaeuser were worth $4,353,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of WY. Chicago Partners Investment Group LLC lifted its stake in shares of Weyerhaeuser by 60.5% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,853 shares of the real estate investment trust’s stock worth $131,000 after buying an additional 1,453 shares during the last quarter. Boston Private Wealth LLC acquired a new stake in shares of Weyerhaeuser during the 3rd quarter worth about $206,000. NBT Bank N A NY acquired a new stake in shares of Weyerhaeuser during the 3rd quarter worth about $208,000. OLD National Bancorp IN acquired a new stake in shares of Weyerhaeuser during the 3rd quarter worth about $209,000. Finally, Bristol Advisors LLC acquired a new stake in shares of Weyerhaeuser during the 4th quarter worth about $215,000. Institutional investors own 74.76% of the company’s stock.
A number of research firms have recently issued reports on WY. Zacks Investment Research cut shares of Weyerhaeuser from a “buy” rating to a “hold” rating and set a $39.00 target price for the company. in a research note on Saturday, January 13th. TheStreet upgraded shares of Weyerhaeuser from a “c+” rating to a “b-” rating in a research note on Wednesday, November 8th. Stephens started coverage on shares of Weyerhaeuser in a research note on Tuesday, October 24th. They issued an “equal weight” rating and a $35.00 price objective for the company. Finally, Argus lifted their price objective 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. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $37.44.
Weyerhaeuser (NYSE:WY) last issued its quarterly earnings data on Friday, October 27th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Weyerhaeuser had a net margin of 12.37% and a return on equity of 8.15%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s revenue was up 9.5% on a year-over-year basis. equities analysts expect that Weyerhaeuser Co will post 1.2 earnings per share for the current fiscal year.
In other 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 value of $843,149.16. Following the completion of the transaction, the insider now directly owns 98,973 shares in the company, valued at approximately $3,574,904.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by insiders.
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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